Post Retirement Benefit Plans (Tables)
 12 Months Ended
Oct. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Number of Participants in Defined Benefit Plans
The following table presents the number of participants in the defined benefit plans (in thousands):
 
October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Active participants
1,573

 
1,405

 
95

 
—

 
73

 
—

Vested former employees and deferred members
2,149

 
1,484

 
60

 
462

 
89

 
54

Retirees and beneficiaries
4,114

 
2,565

 
258

 
699

 
534

 
58

 
 
 
 
 
 
 
 
 
 
 
 
October 31, 2015
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Active participants
1,869

 
1,509

 
105

 
133

 
74

 
48

Vested former employees
2,083

 
1,525

 
57

 
399

 
81

 
21

Retirees and beneficiaries
4,050

 
2,480

 
255

 
718

 
540

 
57

The following table presents the number of participants in the post-retirement health and life insurance benefit plan:
 
October 31, 2016
Consolidated
 
United States
 
South Africa
Active participants
22

 
12

 
10

Retirees and beneficiaries
704

 
616

 
88

October 31, 2015
Consolidated
 
United States
 
South Africa
Active participants
25

 
12

 
13

Retirees and beneficiaries
757

 
667

 
90
Actuarial Assumptions Used to Measure Benefit Obligations and Pension Costs
The actuarial assumptions are used to measure the year-end benefit obligations as of October 31, 2016 and the pension costs for the subsequent year were as follows:
 
For the year ended October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Discount rate
3.08
%
 
3.79
%
 
1.50
%
 
2.44
%
 
1.32
%
 
4.31
%
Expected return on plan assets
5.51
%
 
6.25
%
 
N/A

 
6.00
%
 
1.88
%
 
5.77
%
Rate of compensation increase
2.87
%
 
3.00
%
 
2.75
%
 
N/A

 
2.25
%
 
N/A

For the year ended October 31, 2015
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Discount rate
3.71
%
 
4.37
%
 
2.10
%
 
3.45
%
 
1.98
%
 
4.82
%
Expected return on plan assets
5.47
%
 
6.25
%
 
N/A

 
6.00
%
 
2.06
%
 
5.99
%
Rate of compensation increase
3.01
%
 
3.00
%
 
2.75
%
 
3.50
%
 
2.25
%
 
N/A

For the year ended October 31, 2014
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Discount rate
3.69
%
 
4.22
%
 
2.45
%
 
3.72
%
 
2.20
%
 
4.83
%
Expected return on plan assets
5.73
%
 
6.25
%
 
N/A

 
6.25
%
 
3.25
%
 
6.09
%
Rate of compensation increase
2.93
%
 
3.00
%
 
2.75
%
 
3.25
%
 
2.25
%
 
2.41
%
The discount rate actuarial assumptions at October 31 are used to measure the year-end benefit obligations and the pension costs for the subsequent year were as follows:
 
For the year ended:
Consolidated
 
United States
 
South Africa
October 31, 2016
4.10
%
 
3.38
%
 
9.50
%
October 31, 2015
4.65
%
 
3.88
%
 
9.20
%
Components of Net Periodic Pension Cost
The components of net periodic pension cost include the following (Dollars in millions):
 
For the year ended October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Service cost
$
12.4

 
$
10.2

 
$
0.5

 
$
0.8

 
$
0.7

 
$
0.2

Interest cost
22.0

 
13.7

 
0.8

 
5.7

 
1.4

 
0.4

Expected return on plan assets
(32.1
)
 
(19.0
)
 
—

 
(10.7
)
 
(1.7
)
 
(0.7
)
Amortization of prior service cost
(0.2
)
 
(0.1
)
 
—

 
—

 
(0.1
)
 
—

Recognized net actuarial loss
11.4

 
9.3

 
1.0

 
0.8

 
0.3

 
—

Special Events
 
 
 
 
 
 
 
 
 
 
 
Settlement
0.1

 
—

 
—

 
—

 
—

 
0.1

Net periodic pension (benefit) cost
$
13.6

 
$
14.1

 
$
2.3

 
$
(3.4
)
 
$
0.6

 
$
—

For the year ended October 31, 2015
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Service cost
$
15.5

 
$
11.3

 
$
0.5

 
$
1.8

 
$
1.4

 
$
0.5

Interest cost
27.6

 
17.3

 
0.9

 
6.5

 
2.4

 
0.5

Expected return on plan assets
(32.8
)
 
(18.7
)
 
—

 
(11.4
)
 
(1.9
)
 
(0.8
)
Amortization of prior service cost
0.1

 
0.1

 
—

 
—

 
—

 
—

Recognized net actuarial loss
14.2

 
10.0

 
0.9

 
2.2

 
0.8

 
0.3

Special Events
 
 
 
 
 
 
 
 
 
 
 
Curtailment
0.5

 
0.3

 
—

 
—

 
—

 
0.2

Settlement
0.1

 
—

 
—

 
—

 
—

 
0.1

Special/contractual termination benefit
0.1

 
—

 
—

 
—

 
—

 
0.1

Net periodic pension (benefit) cost
$
25.3

 
$
20.3

 
$
2.3

 
$
(0.9
)
 
$
2.7

 
$
0.9

For the year ended October 31, 2014
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Service cost
$
15.7

 
$
10.4

 
$
0.6

 
$
2.5

 
$
1.6

 
$
0.6

Interest cost
29.6

 
16.6

 
1.3

 
7.5

 
3.6

 
0.6

Expected return on plan assets
(33.9
)
 
(17.4
)
 
—

 
(12.6
)
 
(3.1
)
 
(0.8
)
Amortization of prior service cost
0.2

 
0.2

 
—

 
—

 
—

 
—

Recognized net actuarial loss
10.4

 
6.8

 
0.7

 
1.9

 
0.8

 
0.2

Net periodic pension (benefit) cost
$
22.0

 
$
16.6

 
$
2.6

 
$
(0.7
)
 
$
2.9

 
$
0.6
Change in Projected Benefit Obligation
The following table sets forth the plans’ change in projected benefit obligation (Dollars in millions):
 
For the year ended October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
765.8

 
$
432.1

 
$
38.7

 
$
184.0

 
$
100.8

 
$
10.2

Service cost
12.4

 
10.2

 
0.5

 
0.8

 
0.7

 
0.2

Interest cost
22.0

 
13.7

 
0.8

 
5.7

 
1.4

 
0.4

Plan participant contributions
0.2

 
—

 
—

 
—

 
0.2

 
—

Expenses paid from assets
(4.0
)
 
(3.3
)
 
—

 
(0.7
)
 
0.2

 
(0.2
)
Plan Amendments
0.5

 
0.5

 
—

 
—

 
—

 
—

Actuarial (gain) loss
70.1

 
39.1

 
3.6

 
33.4

 
(7.1
)
 
1.1

Foreign currency effect
(43.4
)
 
—

 
(0.6
)
 
(41.5
)
 
(1.2
)
 
(0.1
)
Benefits paid
(39.8
)
 
(22.1
)
 
(1.2
)
 
(10.3
)
 
(4.9
)
 
(1.3
)
Benefit obligation at end of year
$
783.8

 
$
470.2

 
$
41.8

 
$
171.4

 
$
90.1

 
$
10.3

For the year ended October 31, 2015
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
786.9

 
$
419.6

 
$
41.9

 
$
186.9

 
$
123.6

 
$
14.9

Service cost
15.5

 
11.3

 
0.5

 
1.8

 
1.4

 
0.5

Interest cost
27.6

 
17.3

 
0.9

 
6.5

 
2.4

 
0.5

Plan participant contributions
0.2

 
—

 
—

 
—

 
0.2

 
—

Expenses paid from assets
(2.7
)
 
(2.1
)
 
—

 
(0.7
)
 
0.2

 
(0.1
)
Plan Amendments
(3.3
)
 
(2.3
)
 
—

 
—

 
(1.0
)
 
—

Actuarial (gain) loss
15.7

 
9.1

 
2.2

 
9.0

 
(4.6
)
 
—

Foreign currency effect
(33.7
)
 
—

 
(5.6
)
 
(9.7
)
 
(16.2
)
 
(2.2
)
Benefits paid
(33.0
)
 
(18.4
)
 
(1.2
)
 
(7.3
)
 
(5.2
)
 
(0.9
)
Curtailments
(7.2
)
 
(2.1
)
 
—

 
(2.5
)
 
—

 
(2.6
)
Other
(0.2
)
 
(0.3
)
 
—

 
—

 
—

 
0.1

Benefit obligation at end of year
$
765.8

 
$
432.1

 
$
38.7

 
$
184.0

 
$
100.8

 
$
10.2
Benefit Obligations in Excess of Plan Assets
The following tables set forth the PBO, ABO, plan assets and instances where the ABO exceeds the plan assets for the respective years (Dollars in millions):
 
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial value of benefit obligations
Consolidated
 
United States
 
Germany
 
United
Kingdom
 
Netherlands
 
Other
International
October 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Projected benefit obligation
$
783.8

 
$
470.2

 
$
41.8

 
$
171.4

 
$
90.1

 
$
10.3

Accumulated benefit obligation
752.9

 
443.4

 
39.1

 
171.4

 
88.7

 
10.3

Plan assets
626.3

 
332.5

 
—

 
185.1

 
96.1

 
12.6

October 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Projected benefit obligation
$
765.8

 
$
432.1

 
$
38.7

 
$
184.0

 
$
100.8

 
$
10.2

Accumulated benefit obligation
739.9

 
409.8

 
35.9

 
184.0

 
100.0

 
10.2

Plan assets
624.7

 
311.1

 
—

 
208.4

 
92.7

 
12.5

Plans with ABO in excess of Plan assets
 
 
 
 
 
 
 
 
 
 
 
October 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Accumulated benefit obligation
$
492.7

 
$
443.4

 
$
39.1

 
$
—

 
$
—

 
$
10.2

Plan assets
342.5

 
332.5

 
—

 
—

 
—

 
10.0

October 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Accumulated benefit obligation
$
546.5

 
$
409.8

 
$
35.9

 
$
—

 
$
100.0

 
$
0.8

Plan assets
404.4

 
311.1

 
—

 
—

 
92.7

 
0.6
Future Benefit Payments Next Five Years and Thereafter
Future benefit payments, which reflect expected future service, as appropriate, during the next five years, and in the aggregate for the five years thereafter, are expected to be as follows (Dollars in millions):
 
Year
Expected
benefit
payments

2017
$
1.3

2018
1.3

2019
1.2

2020
1.1

2021
1.1

2022-2026
4.7

Future benefit payments for the Company's global plans, which reflect expected future service, as appropriate, during the next five years, and in the aggregate for the five years thereafter, are as follows (Dollars in millions):
 
 
 
Year
Expected
benefit
payments
2017
$
42.2

2018
42.3

2019
43.9

2020
44.5

2021
44.4

2022-2026
242.7
Weighted Average Asset Allocations at Measurement Date and Target Asset Allocations
The Company’s weighted average asset allocations at the measurement date and the target asset allocations by category are as follows:
 
Asset Category
2016 Target

 
2016 Actual

 
2015 Target

 
2015 Actual

Equity securities
25
%
 
29
%
 
23
%
 
28
%
Debt securities
49
%
 
40
%
 
51
%
 
40
%
Other
26
%
 
31
%
 
26
%
 
32
%
Total
100
%
 
100
%
 
100
%
 
100
%
Fair Value Measurements for Pension Assets
The following table presents the fair value measurements for the pension assets:
 
As of October 31, 2016 (Dollars in millions)
 
 
 
 
 
 
 
Asset Category
Fair Value Measurement
 
Level 1
 
Level 2
 
Level 3
 
Total
Mutual funds
$
104.9

 
$
152.3

 
$
—

 
$
257.2

Common stock
39.7

 
—

 
—

 
39.7

Cash
18.6

 
—

 
—

 
18.6

Common collective trusts
—

 
136.7

 
—

 
136.7

Corporate bonds
—

 
29.7

 
—

 
29.7

Government bonds
—

 
16.5

 
—

 
16.5

Insurance annuity
—

 
—

 
125.4

 
125.4

Other assets
—

 
2.5

 
—

 
2.5

Total
$
163.2

 
$
337.7

 
$
125.4

 
$
626.3

 
 
 
 
 
 
 
 
As of October 31, 2015 (Dollars in millions)
 
 
 
 
 
 
 
Asset Category
Fair Value Measurement
 
Level 1
 
Level 2
 
Level 3
 
Total
Mutual funds
$
124.4

 
$
161.2

 
$
—

 
$
285.6

Common stock
26.7

 
—

 
—

 
26.7

Cash
20.0

 
—

 
—

 
20.0

Money market fund
0.6

 
—

 
—

 
0.6

Common collective trusts
—

 
128.3

 
—

 
128.3

Corporate bonds
—

 
19.7

 
—

 
19.7

Government bonds
—

 
10.0

 
—

 
10.0

Insurance annuity
—

 
—

 
130.2

 
130.2

Other assets
—

 
3.6

 
—

 
3.6

Total
$
171.7

 
$
322.8

 
$
130.2

 
$
624.7

The fair value of the pension plans’ investments is presented below. The inputs and valuation techniques used to measure the fair value of the assets are consistently applied and described in Note 10.
 
For the year ended October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
624.7

 
$
311.1

 
$
—

 
$
208.4

 
$
92.7

 
$
12.5

Actual return on plan assets
71.6

 
29.8

 
—

 
31.5

 
9.3

 
1.0

Expenses paid
(4.0
)
 
(3.3
)
 
—

 
(0.7
)
 
0.2

 
(0.2
)
Plan participant contributions
0.2

 
—

 
—

 
—

 
0.2

 
—

Foreign currency impact
(47.1
)
 
—

 
—

 
(45.6
)
 
(1.4
)
 
(0.1
)
Employer contributions
17.3

 
14.9

 
—

 
1.8

 
—

 
0.6

Benefits paid out of plan
(36.4
)
 
(20.0
)
 
—

 
(10.3
)
 
(4.9
)
 
(1.2
)
Fair value of plan assets at end of year
$
626.3

 
$
332.5

 
$
—

 
$
185.1

 
$
96.1

 
$
12.6

For the year ended October 31, 2015
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
650.8

 
$
325.6

 
$
—

 
$
202.7

 
$
107.8

 
$
14.7

Actual return on plan assets
25.4

 
(0.9
)
 
—

 
21.8

 
3.9

 
0.6

Expenses paid
(2.7
)
 
(2.1
)
 
—

 
(0.7
)
 
0.2

 
(0.1
)
Plan participant contributions
0.2

 
—

 
—

 
—

 
0.2

 
—

Foreign currency impact
(27.3
)
 
—

 
—

 
(10.6
)
 
(14.2
)
 
(2.5
)
Employer contributions
8.2

 
5.0

 
—

 
2.5

 
—

 
0.7

Benefits paid
(29.9
)
 
(16.5
)
 
—

 
(7.3
)
 
(5.2
)
 
(0.9
)
Fair value of plan assets at end of year
$
624.7

 
$
311.1

 
$
—

 
$
208.4

 
$
92.7

 
$
12.5
Reconciliation of Beginning and Ending Balances of Fair Value Measurements Using Significant Unobservable Inputs
The following table presents a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3). There have been no transfers in or out of level 3:
 
 
Pension Plan
(Dollars in millions)
October 31, 2016
 
October 31, 2015
Balance at beginning of year
$
130.2

 
$
151.1

Actual return on plan assets held at reporting date:
 
 
 
Assets still held at reporting date
10.6

 
7.1

Plan participant contributions
—

 
—

Net purchases (settlements)
(6.1
)
 
—

Transfers
—

 
(3.4
)
Currency impact
(9.3
)
 
(24.6
)
Balance at end of year
$
125.4

 
$
130.2
Amounts Recognized in Consolidated Financial Statements
Financial statement presentation including other comprehensive income:
 
As of October 31, 2016
Consolidated
 
United States
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Unrecognized net actuarial loss
$
202.5

 
$
145.4

 
$
18.4

 
$
36.4

 
$
(0.1
)
 
$
2.4

Unrecognized prior service cost
(2.7
)
 
(1.2
)
 
—

 
—

 
(1.5
)
 
—

Unrecognized initial net obligation
—

 
—

 
—

 
—

 
—

 
—

Accumulated other comprehensive loss (Pre-tax)
$
199.8

 
$
144.2

 
$
18.4

 
$
36.4

 
$
(1.6
)
 
$
2.4

Amounts recognized in the Consolidated Balance Sheets consist of:
 
 
 
 
 
 
 
 
 
 
 
Prepaid benefit cost
$
22.2

 
$
—

 
$
—

 
$
13.7

 
$
6.0

 
$
2.5

Accrued benefit liability
(179.7
)
 
(137.7
)
 
(41.8
)
 
—

 
—

 
(0.2
)
Accumulated other comprehensive loss
199.8

 
144.2

 
18.4

 
36.4

 
(1.6
)
 
2.4

Net amount recognized
$
42.3

 
$
6.5

 
$
(23.4
)
 
$
50.1

 
$
4.4

 
$
4.7

As of October 31, 2015
Consolidated
 
USA
 
Germany
 
United Kingdom
 
Netherlands
 
Other
International
Unrecognized net actuarial loss
$
192.1

 
$
126.6

 
$
15.9

 
$
32.9

 
$
14.9

 
$
1.8

Unrecognized prior service cost
(3.5
)
 
(1.8
)
 
—

 
—

 
(1.7
)
 
—

Unrecognized initial net obligation
—

 
—

 
—

 
—

 
—

 
—

Accumulated other comprehensive loss (Pre-tax)
$
188.6

 
$
124.8

 
$
15.9

 
$
32.9

 
$
13.2

 
$
1.8

Amounts recognized in the Consolidated Balance Sheets consist of:
 
 
 
 
 
 
 
 
 
 
 
Prepaid benefit cost
$
26.7

 
$
—

 
$
—

 
$
24.4

 
$
—

 
$
2.3

Accrued benefit liability
(167.8
)
 
(121.0
)
 
(38.6
)
 
—

 
(8.2
)
 
—

Accumulated other comprehensive loss
188.6

 
124.8

 
15.9

 
32.9

 
13.2

 
1.8

Net amount recognized
$
47.5

 
$
3.8

 
$
(22.7
)
 
$
57.3

 
$
5.0

 
$
4.1

 
 
October 31, 2016
 
October 31, 2015
Accumulated other comprehensive loss at beginning of year
$
188.6

 
$
198.8

Increase or (decrease) in accumulated other comprehensive (income) or loss
 
 
 
Net transition obligation amortized during fiscal year
—

 
(0.1
)
Net prior service costs amortized during fiscal year
0.2

 
(0.1
)
Net loss amortized during fiscal year
(11.4
)
 
(14.2
)
Prior service cost recognized during fiscal year due to curtailment
—

 
(0.3
)
Transition obligation recognized during fiscal year due to curtailment
—

 
(0.2
)
Loss recognized during fiscal year due to settlement
(0.1
)
 
(0.1
)
Prior service credit occurring during fiscal year
0.5

 
(3.2
)
Liability loss occurring during fiscal year
69.8

 
8.4

Asset loss (gain) occurring during fiscal year
(39.4
)
 
7.5

Increase (decrease) in accumulated other comprehensive loss
$
19.6

 
$
(2.3
)
Foreign currency impact
(8.4
)
 
(7.9
)
Accumulated other comprehensive loss at current fiscal year end
$
199.8

 
$
188.6
Components of Net Periodic Cost for Postretirement Benefits
The components of net periodic cost for the postretirement benefits include the following (Dollars in millions):
 
For the years ended October 31,
2016
 
2015
 
2014
Service cost
$
—

 
$
—

 
$
—

Interest cost
0.5

 
0.7

 
0.8

Amortization of prior service cost (benefit)
(1.5
)
 
(1.5
)
 
(1.6
)
Recognized net actuarial gain
(0.1
)
 
(0.1
)
 
—

Net periodic income
$
(1.1
)
 
$
(0.9
)
 
$
(0.8
)
Schedule of Plan's Change in Benefit Obligation
The following table sets forth the plans’ change in benefit obligation (Dollars in millions):
 
 
October 31, 2016
 
October 31, 2015
Benefit obligation at beginning of year
$
14.9

 
$
17.3

Service cost
—

 
—

Interest cost
0.5

 
0.7

Actuarial loss
(0.6
)
 
(1.0
)
Foreign currency effect
(0.1
)
 
(0.6
)
Benefits paid
(1.1
)
 
(1.5
)
Benefit obligation at end of year
$
13.6

 
$
14.9
Schedule of Other Comprehensive Income Included in Financial Statement
Financial statement presentation included other comprehensive income (Dollars in millions):
 
 
October 31, 2016
 
October 31, 2015
Unrecognized net actuarial gain
$
(2.2
)
 
$
1.6

Unrecognized prior service credit
(4.3
)
 
5.8

Accumulated other comprehensive income
$
(6.5
)
 
$
7.4
Summary of Healthcare Cost Trend Rates on Gross Eligible Charges
The healthcare cost trend rates on gross eligible charges are as follows:
 
 
Medical

Current trend rate
7.2
%
Ultimate trend rate
5.0
%
Year ultimate trend rate reached (South Africa)
2018

Year ultimate trend rate reached (US)
2026
Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates
A one-percentage point change in assumed health care cost trend rates would have the following effects (Dollars in thousands):
 
 
1-Percentage-Point
Increase

 
1-Percentage-Point
Decrease

Effect on total of service and interest cost components
$
27

 
$
(23
)
Effect on postretirement benefit obligation
$
304

 
$
(261
)