0000711404-20-000042 | 10-K | XBRL Viewer

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Income Statement [Abstract]
Net sales	$ 2,430.9	$ 2,653.4	$ 2,532.8
Cost of sales	896.1	896.6	900.5
Gross profit	1,534.8	1,756.8	1,632.3
Selling, general and administrative expense	992.5	996.2	973.3
Research and development expense	93.3	86.7	84.8
Amortization of intangibles	137.2	145.8	146.7
Impairment of intangibles	0.0	0.4	24.4
Gain on sale of an intangible (Note 4)	0.0	(19.0)	0.0
Operating income	311.8	546.7	403.1
Interest expense	36.8	68.0	82.7
Other expense (income), net	8.5	1.3	(11.5)
Income before income taxes	266.5	477.4	331.9
Provision for income taxes (Note 6)	28.1	10.7	192.0
Net income	238.4	466.7	139.9
Net income attributable to Cooper stockholders	$ 238.4	$ 466.7	$ 139.9
Earnings per share (Note 7)
Basic (in dollars per share)	$ 4.85	$ 9.44	$ 2.85
Diluted (in dollars per share)	$ 4.81	$ 9.33	$ 2.81
Number of shares used to compute earnings per share:
Basic (in shares)	49.1	49.4	49.1
Diluted (in shares)	49.6	50.0	49.7

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 238.4	$ 466.7	$ 139.9
Other comprehensive loss:
Cash flow hedges, net of tax (benefit) of $(4.1) in fiscal 2020	(13.0)	0.0	0.0
Change in minimum pension liability, net of tax (benefit) provision of $(4.0), $(8.0) and $3.1, respectively	(12.8)	(25.4)	7.9
Foreign currency translation adjustment	0.9	9.0	(58.5)
Other comprehensive loss	(24.9)	(16.4)	(50.6)
Comprehensive income	213.5	450.3	89.3
Comprehensive income attributable to Cooper stockholders	$ 213.5	$ 450.3	$ 89.3

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Cash flow hedges, tax benefit	$ (4.1)
Change in minimum pension liability, tax (benefit) provision	$ (4.0)	$ (8.0)	$ 3.1

Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Current assets:
Cash and cash equivalents	$ 115.9	$ 89.0
Trade accounts receivable, net of allowance for doubtful accounts of $10.2 at October 31, 2020 and $16.4 at October 31, 2019	435.4	435.3
Inventories (Note 1)	570.4	506.9
Prepaid expense and other current assets	152.5	132.2
Total current assets	1,274.2	1,163.4
Property, plant and equipment, at cost (Note 1)	2,474.8	2,193.9
Less: accumulated depreciation and amortization	1,192.9	1,061.8
Property, plant and equipment, net	1,281.9	1,132.1
Operating lease right-of-use assets (Note 2)	260.2
Goodwill (Note 4)	2,447.3	2,428.9
Other intangibles, net (Note 4)	1,289.0	1,405.3
Deferred tax assets	80.1	78.0
Other assets	104.8	66.8
Total assets	6,737.5	6,274.5
Current liabilities:
Short-term debt (Note 5)	409.3	563.7
Accounts payable	176.0	150.1
Employee compensation and benefits	119.0	104.7
Operating lease liabilities (Note 2)	33.3
Other current liabilities	266.8	292.1
Total current liabilities	1,004.4	1,110.6
Long-term debt (Note 5)	1,383.9	1,262.6
Deferred tax liabilities	25.8	28.0
Long-term tax payable	162.0	124.8
Operating lease liabilities (Note 2)	236.8
Accrued pension liability and other	99.8	119.9
Total liabilities	2,912.7	2,645.9
Contingencies (see Note 12)
Stockholders’ equity:
Preferred stock, 10 cents par value, shares authorized: 1.0; zero shares issued or outstanding	0.0	0.0
Common stock, 10 cents par value, shares authorized: 120.0; issued 53.4 at October 31, 2020 and 53.2 at October 31, 2019	5.3	5.3
Additional paid-in capital	1,646.8	1,615.0
Accumulated other comprehensive loss	(472.0)	(447.1)
Retained earnings	3,261.8	3,026.4
Treasury stock at cost: 4.3 shares at October 31, 2020 and 4.1 shares at October 31, 2019	(617.3)	(571.2)
Total Cooper stockholders' equity	3,824.6	3,628.4
Noncontrolling interests	0.2	0.2
Stockholders’ equity (Note 8)	3,824.8	3,628.6
Total liabilities and stockholders' equity	$ 6,737.5	$ 6,274.5

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts	$ 10.2	$ 16.4
Preferred stock, par value (in dollars per share)	$ 0.1	$ 0.1
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	53,400,000	53,200,000
Treasury stock (in shares)	4,300,000	4,100,000

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Shares	Treasury Stock	Treasury Stock Par Net Value	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjustment Retained Earnings
Beginning balance (in shares) at Oct. 31, 2017		48,800,000	3,600,000
Beginning balance at Oct. 31, 2017	$ 3,175.8	$ 4.9	$ (415.1)	$ 0.3	$ 1,526.7	$ (375.3)	$ 2,434.2	$ 0.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Cooper stockholders	139.9						139.9
Other comprehensive income (loss), net of tax	(50.6)					(50.6)
Issuance of common stock for stock plans (in shares)		400,000
Issuance of common stock for stock plans, net	1.8	$ 0.1			1.7
Dividends on common stock	(2.9)						(2.9)
Share-based compensation expense	43.7				43.7
ASU2018-02 adoption						(4.8)	4.8
Noncontrolling interests	0.1							0.1
Ending balance (in shares) at Oct. 31, 2018		49,200,000	3,600,000
Ending balance at Oct. 31, 2018	$ 3,307.8	$ 5.0	$ (415.1)	0.3	1,572.1	(430.7)	2,576.0	0.2	$ (13.3)	$ (13.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201616Member
Net income attributable to Cooper stockholders	$ 466.7						466.7
Other comprehensive income (loss), net of tax	(16.4)					(16.4)
Issuance of common stock for stock plans (in shares)		400,000
Issuance of common stock for stock plans, net	$ 7.8				7.8
Treasury stock repurchase (in shares)	536,972	500,000	500,000
Treasury stock repurchase	$ (156.1)	$ (0.1)	$ (156.1)	0.1
Dividends on common stock	(3.0)						(3.0)
Share-based compensation expense	35.1				35.1
Ending balance (in shares) at Oct. 31, 2019		49,100,000	4,100,000
Ending balance at Oct. 31, 2019	3,628.6	$ 4.9	$ (571.2)	0.4	1,615.0	(447.1)	3,026.4	0.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Cooper stockholders	238.4						238.4
Other comprehensive income (loss), net of tax	(24.9)					(24.9)
Issuance of common stock for stock plans (in shares)		200,000
Issuance of common stock for stock plans, net	(6.8)				(6.8)
Issuance of common stock for employee stock purchase plan	$ 3.5		$ 1.7		1.8
Treasury stock repurchase (in shares)	160,850	200,000	200,000
Treasury stock repurchase	$ (47.8)		$ (47.8)
Dividends on common stock	(3.0)						(3.0)
Share-based compensation expense	36.8				36.8
Ending balance (in shares) at Oct. 31, 2020		49,100,000	4,300,000
Ending balance at Oct. 31, 2020	$ 3,824.8	$ 4.9	$ (617.3)	$ 0.4	$ 1,646.8	$ (472.0)	$ 3,261.8	$ 0.2

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Cash flows from operating activities:
Net income	$ 238.4	$ 466.7	$ 139.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	287.1	280.8	275.1
Impairment of intangibles	0.0	0.4	24.4
Gain on sale of an intangible (Note 3)	0.0	(19.0)	0.0
Share-based compensation expense	37.6	35.1	43.2
Inventory step-up release	0.0	0.1	50.5
Non-cash operating lease expense	32.5
Impairment and loss on disposal of property, plant and equipment	24.4	7.7	5.1
Deferred income taxes	(0.9)	(15.9)	2.9
Provision for doubtful accounts	(6.2)	(2.6)	8.2
CCA cost amortization	0.5	0.0	0.0
Interest income on convertible note	(1.0)	0.0	0.0
Interest income on convertible note
Accounts receivable	8.5	(55.6)	(59.5)
Inventories	(62.3)	(37.3)	(5.0)
Other assets	(41.1)	39.8	(64.9)
Operating lease right-of-use assets and liabilities, net	(20.0)	0.0	0.0
Accounts payable	23.2	3.6	2.9
Accrued liabilities	(9.3)	33.1	81.2
Accrued income taxes	(12.4)	8.7	4.4
Other long-term liabilities	(12.4)	(32.4)	160.5
Net cash provided by operating activities	486.6	713.2	668.9
Cash flows from investing activities:
Purchases of property, plant and equipment	(310.4)	(292.1)	(193.6)
Acquisitions of businesses and assets, net of cash acquired, and other	(54.1)	(59.2)	(1,323.9)
Net cash used in investing activities	(364.5)	(351.3)	(1,517.5)
Cash flows from financing activities:
Proceeds from long-term debt	3,205.4	1,136.8	2,748.1
Repayments of long-term debt	(3,235.9)	(1,861.8)	(1,912.1)
Net (repayments of) proceeds from short-term debt	(6.6)	525.3	13.6
Repurchase of common stock	(47.8)	(156.1)	0.0
Proceeds related to share-based compensation awards	13.5	29.9	22.3
Payments related to share-based compensation awards	(20.3)	(22.1)	(20.5)
Dividends on common stock	(3.0)	(3.0)	(2.9)
Issuance of common stock for employee stock purchase plan	2.7	0.0	0.0
Debt acquisition costs	(5.6)	(0.4)	(3.9)
Payment of contingent consideration	0.0	0.0	(0.2)
Proceeds from construction allowance	2.1	0.0	0.0
Net cash (used in) provided by financing activities	(95.5)	(351.4)	844.4
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0.7	(1.2)	(4.4)
Net increase (decrease) in cash, cash equivalents and restricted cash	27.3	9.3	(8.6)
Cash, cash equivalents and restricted cash at beginning of year	89.5	80.2	88.8
Cash, cash equivalents and restricted cash at end of year	116.8	89.5	80.2
Supplemental disclosures of cash flow information:
Interest	46.5	75.3	82.1
Income taxes	51.1	39.2	18.8
Reconciliation of cash flow information:
Total cash, cash equivalents, and restricted cash	$ 116.8	$ 80.2	$ 88.8

Accounting Policies

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounting Policies

General

The Cooper Companies, Inc. (Cooper, we or the Company) is a global medical device company publicly traded on the NYSE (NYSE:COO). Cooper operates through two business units, CooperVision and CooperSurgical.


•	CooperVision primarily develops, manufactures and markets a broad range of soft contact lenses for the worldwide vision correction market.


•	CooperSurgical primarily develops, manufactures, markets medical devices and procedures solutions, and provides services to improve health care delivery to women, babies and families.

Estimates

The World Health Organization categorized the Coronavirus disease 2019 (COVID-19) as a pandemic. The COVID-19 pandemic has caused a severe global health crisis, along with economic and societal disruptions and uncertainties, which have negatively impacted business and healthcare activity globally. As a result of healthcare systems responding to the demands of managing the pandemic, governments around the world imposing measures designed to reduce the transmission of the COVID-19 virus, and individuals responding to the concerns of contracting the COVID-19 virus, many optical practitioners & retailers, hospitals, medical offices and fertility clinics closed their facilities, restricted access, or delayed or canceled patient visits, exams and elective medical procedures, and many customers that have reopened are experiencing reduced patient visits. This has had, and we believe will continue to have, an adverse effect on our sales, operating results and cash flows.

The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates particularly as it relates to estimates reliant on forecasts and other assumptions reasonably available to the Company and the uncertain future impacts of the COVID-19 pandemic and related economic disruptions. The extent to which the COVID-19 pandemic and related economic disruptions impact our business and financial results will depend on future developments including, but not limited to, the continued spread, duration and severity of the COVID-19 pandemic; the occurrence, spread, duration and severity of any subsequent wave or waves of outbreaks; the actions taken by the U.S. and foreign governments to contain the COVID-19 pandemic, address its impact or respond to the reduction in global and local economic activity; the occurrence, duration and severity of a global, regional or national recession, depression or other sustained adverse market event; the impact of the developments described above on our customers and suppliers; and how quickly and to what extent normal economic and operating conditions can resume. The accounting matters assessed included, but were not limited to:


•	allowance for doubtful accounts and credit losses


•	carrying value of inventory


•	the carrying value of goodwill and other long-lived assets.

There was not a material impact to the above estimates in the Company’s Consolidated Financial Statements for fiscal 2020. The Company continually monitors and evaluates the estimates used as additional information becomes available. Adjustments will be made to these provisions periodically to reflect new facts and circumstances that may indicate that historical experience may not be indicative of current and/or future results. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material changes to the estimates and material impacts to the Company’s Consolidated Financial Statements in future reporting periods.

Significant Accounting Policies

Management's significant accounting policies include estimates and judgments which are an integral part of financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP). We believe that the accounting policies described in this section address the more significant policies utilized by management when preparing our consolidated financial statements in accordance with GAAP. We believe that the accounting policies and estimates employed are appropriate and resulting balances are reasonable; however, actual results could differ from the original estimates, requiring adjustment to these balances in future periods. The accounting policies that reflect our more significant estimates, judgments and assumptions and which we believe are the most important to aid in fully understanding and evaluating our reported financial results are:


•	Revenue recognition

Net Sales

The Company sells its products principally to a limited number of distributors, group purchasing organizations, eye care or health care professionals including independent practices, corporate retailers, hospitals and clinics or authorized resellers (collectively, its Customers). These Customers subsequently resell the Company’s products to eye care or health care providers and patients. In addition to product supply and distribution agreements with Customers, the Company enters into arrangements with health care providers and payors that provide for government-mandated and/or privately negotiated rebates, chargebacks and discounts with respect to the purchase of the Company’s products. The Company considers customer purchase orders, which in some cases are governed by master sales agreements, to be contracts with a customer. In situations where sales are to a distributor, the Company has concluded that its contracts are with the distributor. As part of its consideration of the contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations.

Revenues from product sales are recognized when the Customer obtains control of the Company’s product, which occurs at a point in time, typically upon shipment or delivery to the Customer. When the Company performs shipping and handling activities after the transfer of control to the Customer (e.g., when control transfers prior to delivery), they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Taxes collected from Customers relating to product sales and remitted to governmental authorities are excluded from revenues. The Company does not have any revenue recognized on payment expected to be received more than one year after the transfer of control of the products. The Company expenses incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that the Company would have recognized is one year or less. See Note 13. Business Segment Information, for disaggregation of revenue.

Reserves for Variable Consideration

Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established and which result from discounts, returns, chargebacks, rebates and other allowances that are offered within contracts between the Company and its Customers, health care providers, payors and other indirect customers relating to the Company’s sales of its products. These reserves are based on the amounts earned or to be claimed on the related sales and are classified primarily in current liabilities. Variable consideration is estimated based on the most likely amount or expected value approach, depending on which method the Company expects to better predict the amount of consideration to which it will be entitled. Once the

Company elects one of the methods to estimate variable consideration for a particular type of performance obligation, the Company applies that method consistently.

Where appropriate, these estimates take into consideration a range of possible outcomes which are probability-weighted for relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known.

Trade Discounts and Allowances

The Company generally provides Customers with discounts, which include incentive fees that are stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product revenue is recognized. In addition, the Company receives sales order management, data and distribution services from certain Customers. To the extent the services received are distinct from the Company’s sale of products to the Customer and have readily determinable fair value, these payments are classified in selling, general and administrative expenses in our Consolidated Statements of Income.

Product Returns

Consistent with industry practice, the Company generally offers Customers a limited right of return for a product that has been purchased from the Company. The Company estimates the amount of its product sales that may be returned by its Customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized. There is inherent judgment in estimating future refunds as they are susceptible to factors outside of our influence. However, we have significant experience in estimating the amount of refunds, based primarily on historical data. Our refund liability for product returns was $10.0 million and $11.6 million at October 31, 2020 and 2019, respectively, which is included in Accrued Liabilities on our Consolidated Balance Sheets and represents the expected value of the aggregate refunds that will be due to our customers.

Rebates and Chargebacks

Rebates are estimated based on contractual terms, historical experience, customer mix, trend analysis and projected market conditions in the various markets served.

Chargebacks for fees and discounts to providers represent the estimated obligations resulting from contractual commitments to sell products to qualified healthcare providers at prices lower than the list wholesale prices charged to the Company’s direct customers. For certain office and surgical products in CooperSurgical, customers charge the Company for the difference between what they pay for the product and the ultimate selling price to the qualified healthcare providers. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue. Chargeback amounts are generally determined at the time of resale to the qualified healthcare provider by customers. CooperSurgical rebates are predominately related to the Medicaid rebate provision that is estimated based upon contractual terms, historical experience, and trend analysis.

Contract balances

The timing of billing and revenue recognition primarily occurs simultaneously. The Company does not have material contract assets or liabilities.

•

Leases - We consider an arrangement a lease if the arrangement transfers the right to control the use of an identified asset in exchange for consideration. We have operating leases, but do not have material financing leases. Lease right-of-use assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make payments arising from the lease agreement. These assets and liabilities are recognized at the commencement of the lease based upon the present value of the future minimum lease payments over the lease term. The lease term reflects the noncancelable period of the lease together with periods covered by an option to extend or terminate the lease when management is reasonably certain that it will exercise such option. Changes in the lease term assumption could impact the right-of-use assets and lease liabilities recognized on the balance sheet. As our leases typically do not contain a readily determinable implicit rate, we determine the present value of the lease liability using our incremental borrowing rate at the lease commencement date based on the lease term on a collateralized basis.

•

Net realizable value of inventory - In assessing the value of inventories, we make estimates and judgments regarding aging of inventories and other relevant issues potentially affecting the saleable condition of products and estimated prices at which those products will sell. On an ongoing basis, we review the carrying value of our inventory, measuring number of months on hand and other indications of saleability. We reduce the value of inventory if there are indications that the carrying value is greater than net realizable value, resulting in a new, lower-cost basis for that inventory. Subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. While estimates are involved, historically, obsolescence has not been a significant factor due to long product dating and lengthy product life cycles.

•

Valuation of goodwill - We evaluate goodwill for impairment annually during the fiscal third quarter and when an event occurs or circumstances change such that it is reasonably possible that impairment may exist. We account for goodwill and evaluate our goodwill balances and test them for impairment in accordance with related accounting standards. We performed our annual impairment test in our third quarter of fiscal 2020 and 2019, and our analysis indicated that we had no impairment of goodwill in our reporting units.

Goodwill impairment analysis and measurement is a process that requires significant judgment. If our common stock price trades below book value per share, there are changes in market conditions or a future downturn in our business, or a future goodwill impairment test indicates an impairment of our goodwill, we may have to recognize a non-cash impairment of goodwill that could be material and could adversely affect our results of operations in the period recognized and also adversely affect our total assets and stockholders' equity.

We test goodwill impairment in accordance with ASU 2017-04, Intangibles - Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. We perform a qualitative assessment to test each reporting unit's goodwill for impairment. Qualitative factors considered in this assessment include industry and market considerations, overall financial performance and other relevant events and factors affecting each reporting unit. Based on our qualitative assessment, if we determine that the fair value of a reporting unit is more likely than not to be less than its carrying amount, the fair value of a reporting unit will be compared with its carrying amount and an impairment charge will be recognized for the amount that the carrying value exceeds the fair value of the reporting unit. A reporting unit is the level of reporting at which goodwill is tested for impairment.

•

Business combinations - We routinely consummate business combinations. Results of operations for acquired companies are included in our consolidated results of operations from the date of acquisition. We recognize separately from goodwill, the identifiable assets acquired, including acquired in-process research and development, the liabilities assumed, and any noncontrolling interest in the acquiree at the acquisition date fair values as defined by accounting standards related to fair value measurements. Key assumptions routinely utilized in allocation of purchase price to intangible assets include projected financial information such as revenue projections for companies acquired. As of the

acquisition date, goodwill is measured as the excess of consideration given, over the net of the acquisition date fair values of the identifiable assets acquired and the liabilities assumed. Direct acquisition costs are expensed as incurred.

•

Income taxes - We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax losses and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.

As part of the process of preparing our consolidated financial statements, we must estimate our income tax expense for each of the jurisdictions in which we operate. This process requires significant management judgments and involves estimating our current tax exposures in each jurisdiction including the impact, if any, of additional taxes resulting from tax examinations as well as judging the recoverability of deferred tax assets. To the extent recovery of deferred tax assets is not likely based on our estimation of future taxable income in each jurisdiction, a valuation allowance is established. Tax exposures can involve complex issues and may require an extended period to resolve. Frequent changes in tax laws in each jurisdiction complicate future estimates. To determine the tax rate, we use the full-year income and the related income tax expense in each jurisdiction. We update the estimated effective tax rate for the effect of significant unusual items as they are identified. Changes in the geographic mix or estimated level of annual pre-tax income can affect the overall effective tax rate, and such changes could be material.

We file income tax returns in all jurisdictions in which we operate. We record a liability for uncertain tax positions taken or expected to be taken in income tax returns that we have determined are not more-likely-than-not realizable. Our financial statements reflect expected future tax consequences of such positions presuming the taxing authorities' full knowledge of the position and all relevant facts. These tax reserves have been established based on management's assessment as to the potential exposure attributable to our uncertain tax positions as well as interest and penalties attributable to these uncertain tax positions. All tax reserves are analyzed quarterly and adjustments are made as events occur that result in changes in judgment.

•

Share-Based Compensation - We grant various share-based compensation awards, including stock options, performance unit shares, restricted stock and restricted stock units. Under fair value recognition provisions, share-based compensation expense is measured at the grant date based on the fair value of the award and is recognized as expense over the vesting period. Determining the fair value of share-based awards at the grant date requires judgment, including estimating Cooper's stock price volatility, employee exercise behaviors and related employee forfeiture rates.

The expected life of the share-based awards is based on the observed and expected time to post-vesting forfeiture and/or exercise. Groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. In determining the expected volatility, management considers implied volatility from publicly-traded options on Cooper's common stock at the date of grant, historical volatility and other factors. The risk-free interest rate is based on the continuous rates provided by the United States Treasury with a term equal to the expected life of the award. The dividend yield is based on the projected annual dividend payment per share, divided by the stock price at the date of grant.

As share-based compensation expense recognized in our Consolidated Statements of Income is based on awards ultimately expected to vest, the amount of expense has been reduced for estimated

forfeitures. Forfeitures are estimated at the time of grant, based on historical experience, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

If factors change and we employ different assumptions in the application of the fair value recognition provisions, the compensation expense that we record in future periods may differ significantly from what we have recorded in the current period.

Accounting Pronouncements Recently Adopted

In May 2020, the SEC adopted the final rule under SEC release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, amending Rule 1-02(w)(2) which includes amendments to certain of its rules and forms related to the disclosure of financial information regarding acquired or disposed businesses. Among other changes, the amendments impact SEC rules relating to (1) the definition of “significant” subsidiaries, (2) requirements to provide financial statements for “significant” acquisitions, and (3) revisions to the formulation and usage of pro forma financial information. The final rule is effective on January 1, 2021; however, voluntary early adoption is permitted. The Company early adopted the provisions of the final rule in the third quarter of fiscal 2020. The guidance did not have a material impact on the Company’s consolidated financial statements and disclosures.

In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use (ROU) asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases and ASU 2018-11, Leases Topic 842 Target improvements, which provides an additional (and optional) transition method whereby the new lease standard is applied at the adoption date and recognized as an adjustment to retained earnings. In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842) Codification Improvements, which further clarifies the determination of fair value of the underlying asset by lessors that are not manufacturers or dealers and modifies transition disclosure requirements for changes in accounting principles and other technical updates.

We adopted this standard using the optional transition method and recorded an adjustment to the Consolidated Balance Sheet on November 1, 2019. We have implemented changes to certain business processes, systems and internal controls to support adoption of the new standard and the related disclosure requirements, including the implementation of a third-party leasing software solution. We elected the package of transition expedients, which allows us to keep our existing lease classifications and not reassess whether any existing contracts as of the date of adoption are leases or contain leases and not reassess initial direct costs. In addition, we elected the practical expedients to combine lease and non-lease components for our leases, and for leases with an initial term of 12 months or less to recognize the associated lease payments in the Consolidated Statements of Income and Comprehensive Income on a straight-line basis over the lease term.

As of October 31, 2020, the aggregate balances of lease right-of-use assets and lease liabilities were $260.2 million and $270.1 million, respectively. The standard did not affect our Consolidated Statements of Income and Comprehensive Income. We will continue to disclose comparative reporting periods prior to November 1, 2019 under the previous accounting guidance, ASC 840 Leases.

Accounting Pronouncements Issued Not Yet Adopted

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” and subsequent amendments to the initial guidance: ASU 2018-19 “Codification Improvements to Topic 326, Financial Instruments-Credit Losses”, ASU 2019-04 “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and

Hedging, and Topic 825, Financial Instruments”, ASU 2019-05 “Financial Instruments-Credit Losses”, ASU 2019-11 “Codification Improvements to Topic 326, Financial Instruments - Credit Losses” (collectively, Topic 326), ASU 2020-02 Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842) and ASU 2020-03 Codification Improvements to Financial Instruments. Topic 326 requires measurement and recognition of expected credit losses for financial assets held. Topic 326 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019, which means it will be effective for our fiscal year beginning November 01, 2020. Early adoption is permitted. The Company believes that the most notable impact of this ASU will relate to its processes around the assessment of the adequacy of its allowance for doubtful accounts on trade accounts receivable and the recognition of credit losses. We continue to monitor the economic implications of the COVID-19 pandemic, however based on current market conditions and as credit losses from the Company's trade receivables have not historically been significant, the Company anticipates that the adoption of the ASU will not have a material impact on the consolidated financial statements.

In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606. This guidance amended Topic 808 and Topic 606 to clarify that transactions in a collaborative arrangement should be accounted for under Topic 606 when the counterparty is a customer for a distinct good or service (i.e., unit of account). The amendments preclude an entity from presenting consideration from a transaction in a collaborative arrangement as revenue from contracts with customers if the counterparty is not a customer for that transaction. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, which means it will be effective for our fiscal year beginning November 1, 2020. Early adoption is permitted. The adoption of this guidance will not have a material impact on our Consolidated Financial Statements.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This guidance removes certain exceptions to the general principles in Topic 740 and enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our Consolidated Financial Statements, which is effective for the Company in our fiscal year and interim periods beginning on November 1, 2021.

In January 2020, the FASB issued ASU 2020-01 Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This guidance addresses accounting for the transition into and out of the equity method and provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact of ASU 2020-01 on our Consolidated Financial Statements, which is effective for the Company in our fiscal year and interim periods beginning on November 1, 2021.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance generally can be applied from March 12, 2020 through December 31, 2022. We are currently assessing the impacts of the practical expedients provided in ASU 2020-04 and which, if any, we will adopt.

In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). This update amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity's own equity and improves and amends the related EPS guidance for both Subtopics. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2021, which means it will be effective for our fiscal year beginning November 1, 2022. Early adoption is permitted but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We are currently evaluating the impact of ASU 2020-06 on our Consolidated Financial Statements.

No other recently issued accounting pronouncements had or are expected to have a material impact on our Consolidated Financial Statements.

Consolidation

The financial statements in this report include the accounts of all of Cooper's consolidated entities. All significant intercompany transactions and balances are eliminated on consolidation.

Foreign Currency Translation

Most of our operations outside the United States use their local currency as their functional currency. We translate these assets and liabilities into United States dollars at year-end exchange rates. We translate income and expense accounts at average rates for each month. We record gains and losses from the translation of financial statements in foreign currencies into United States dollars in other comprehensive income. We record gains and losses from changes in exchange rates on transactions denominated in currencies other than each reporting location's functional currency in net income for each period. We recorded in other expense and income a net foreign exchange loss of $1.2 million for fiscal 2020, $2.2 million for fiscal 2019 and $3.4 million for fiscal 2018.

Litigation

We are subject to various legal proceedings, claims, litigation, investigations and contingencies arising out of the ordinary course of business. If we believe the likelihood of an adverse legal outcome is probable and the amount is estimable, we accrue a liability in accordance with accounting guidance for contingencies. We consult with legal counsel on matters related to litigation and seek input both within and outside the Company.

Long-lived Assets

We review long-lived assets held and used, intangible assets with finite useful lives and assets held for sale for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an evaluation of recoverability is required, the estimated undiscounted future cash flows associated with the asset group are compared to the asset group's carrying amount to determine if a write-down is required. If the undiscounted cash flows are less than the carrying amount, an impairment loss is recorded to the extent that the carrying amount exceeds the fair value. If management has committed to a plan to dispose of long-lived assets, the assets to be disposed of are reported at the lower of carrying amount or fair value less estimated costs to sell.

CooperVision provides optometric practices with in-office lenses used in marketing programs to facilitate efficient and convenient fitting of contact lenses by practitioners. Such lens fitting sets generally consist of a physical binder or rack to store contact lenses and an array of lenses. We record the costs associated with the original fitting set to other long-term assets on our Consolidated Balance Sheet. We amortize such costs over their estimated useful lives to selling, general and administrative expense on our Consolidated Statements of Income. We also expense the cost for lenses provided to practitioners as replenishment for fitting sets in the period shipped to selling, general and administrative expense on our Consolidated Statements of Income.

Cash and Cash Equivalents

The Company considers all short-term, highly liquid investments purchased with maturities of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value.

Inventories



October 31, (In millions)	2020		2019
Raw materials	$	151.0	$	131.4
Work-in-process	12.4		13.3
Finished goods	407.0		362.2
	$	570.4	$	506.9

Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost that approximates actual cost, on a first-in, first-out basis.

Property, Plant and Equipment



October 31, (In millions)	2020		2019
Land and improvements	$	19.9	$	19.9
Buildings and improvements	356.1		330.9
Machinery and equipment	1,764.9		1,582.3
Construction in progress	333.9		260.8
Property, plant and equipment, at cost	$	2,474.8	$	2,193.9
Less: Accumulated depreciation	1,192.9		1,061.8
	$	1,281.9	$	1,132.1

Property, plant and equipment are stated at cost. We compute depreciation using the straight-line method in amounts sufficient to write off depreciable assets over their estimated useful lives. We amortize leasehold improvements over their estimated useful lives or the period of the related lease, whichever is shorter. We depreciate buildings over 30 to 40 years and machinery and equipment over 3 to 15 years.

We expense costs for maintenance and repairs and capitalize major replacements, renewals and betterments. We eliminate the cost and accumulated depreciation of depreciable assets retired or otherwise disposed of from the asset and accumulated depreciation accounts and reflect any gains or losses in operations for the period. We had capitalized interest included in construction in progress of $5.3 million and $6.1 million for the years ended October 31, 2020 and 2019, respectively.

Earnings Per Share

We determine basic earnings per share (EPS) by using the weighted average number of shares outstanding. We determine diluted EPS by increasing the weighted average number of shares outstanding in the denominator by the number of outstanding dilutive equity awards using the treasury stock method.

Treasury Stock

We record treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. At October 31, 2020 and 2019, the number of shares in treasury was approximately 4.3 million and 4.1 million, respectively. The Company purchased 161 thousand shares during the year ended

October 31, 2020 and 537 thousand shares during the year ended October 31, 2019. See Note 8. Stockholders' Equity for additional information on the share repurchase program.

Leases

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Leases

The Company primarily has operating leases for office, manufacturing and warehouse space, vehicles, and office equipment. The Company's leases expire on various dates between 2020 and 2045, some of which could include options to extend the lease.

Lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As these leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease's commencement date in determining the present value of lease payments. The Company considers information including, but not limited to, the lease term, its credit rating and interest rates of similar debt instruments with comparable credit ratings and security interests. The lease right-of-use assets are increased by any lease prepayments made and reduced by any lease incentives such as tenant improvement allowances. Options to extend the lease term are included in the lease term when it is reasonably certain that the Company will exercise the extension option.

The Company’s operating leases typically include non-lease components such as common-area maintenance costs. The Company has elected to include non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities, to the extent that they are fixed. Non-lease components that are not fixed are expensed as incurred as variable lease payments.

Leases with a term of one year or less are not recognized on the Consolidated Balance Sheet, while the associated lease payments are recorded in the Consolidated Statements of Income and Comprehensive Income on a straight-line basis over the lease term.

Commitments under finance lease arrangements of $2.4 million as of October 31, 2020 are not significant and are not included in the disclosure tables below.

The following table presents information about leases on the Consolidated Balance Sheet:



(In millions)	October 31, 2020
Operating Leases
Operating lease right-of-use assets	$	260.2

Operating lease liabilities, current	33.3
Operating lease liabilities, non-current	236.8
Total operating lease liabilities	$	270.1

Weighted average remaining lease term (in years)	11.3
Weighted average discount rate	3		%

The following table presents information about lease expense, which is included in selling, general and administrative expenses in the Consolidated Statement of Income and Comprehensive Income:



(In millions)	2020
Operating lease expense	$	41.2
Short-term lease expense	4.4
Variable lease expense	$	1.8

ASC 840 Comparative Disclosures

Prior to fiscal 2020, we accounted for our leases in accordance with ASC 840, Leases. Under ASC 840, rental expense for operating leases was $45.3 million and $38.8 million for fiscal 2019 and 2018, respectively.

Supplemental Cash Flow Information

The following table presents supplemental cash flow information about the Company’s leases:



(In millions)	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	40.6
Operating lease right-of-use assets obtained in exchange for lease obligations	17.7

Maturity of Lease Liabilities

The minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of October 31, 2020 are:



(In millions)
2021	$	40.7
2022	36.3
2023	32.6
2024	29.3
2025	28.0
Thereafter	158.4
Total lease payments	325.3
Less: interest	55.2
Present value of lease liabilities	$	270.1

Acquisitions

12 Months Ended

Oct. 31, 2020

Business Combination And Asset Acquisition [Abstract]

Acquisitions

The following is a summary of the allocation of the total purchase consideration for business and asset acquisitions that the Company completed during fiscal 2020, 2019, and 2018:



(In millions)	2020			2019		2018
Customer relationships	$	11.4		$	7.5	$	23.5
Trademarks	5.1			10.2		100.0
Technology	—			12.3		—
Composite intangible asset	—			—		1,061.9
Other	3.9			0.1		4.2
Total identifiable intangible assets	$	20.4		$	30.1	$	1,189.6
Goodwill	15.3			29.8		70.6
Net tangible (liabilities) assets	(0.3		)	7.3		59.6
Total purchase price	$	35.4		$	67.2	$	1,319.8

All acquisitions were funded by cash generated from operations or facility borrowings.

For business acquisitions, the Company recorded tangible and intangible assets acquired and liabilities assumed at their fair values as of the applicable date of acquisition. For asset acquisitions, the Company recorded tangible and intangible assets acquired and liabilities assumed at their estimated and relative fair values as of the applicable date of acquisition.

The Company believes these acquisitions strengthen CooperSurgical's and CooperVision's businesses through the addition of new distributors or complementary products and services.

Fiscal Year 2020

On August 7, 2020, CooperVision completed the acquisition of a privately-held U.S contact lens manufacturer focusing on ortho-k lenses. This acquisition expands CooperVision’s specialty eye care portfolio and its leadership in addressing the increasing severity and prevalence of myopia. The purchase price allocation is preliminary and the Company is in the process of finalizing information and the corresponding impact on goodwill.

On December 13, 2019, CooperSurgical completed the acquisition of a privately-held distributor of in vitro fertilization (IVF) medical devices and systems.

The pro forma results of operations have not been presented because the effect of the business combinations described above were not material to our consolidated results of operations.

Fiscal Year 2019

Purchase price allocation for the acquisitions in fiscal year 2019 are completed.

On December 31, 2018, CooperSurgical completed the acquisition of a privately-held U.S. medical device company that develops mechanical surgical solutions for skin closure.

On December 28, 2018, CooperVision completed the acquisition of a privately-held scleral lens company, which expands CooperVision's specialty and scleral lens portfolio.

The pro forma results of operations of these acquisitions have not been presented because the effects of the business combinations described above, individually and in the aggregate, were not material to the reported consolidated financial results.

Fiscal Year 2018

PARAGARD

On November 1, 2017, CooperSurgical acquired the assets of the PARAGARD Intrauterine Device (IUD) business (PARAGARD) from Teva Pharmaceuticals Industries Limited for $1.1 billion.

This asset acquisition broadened and strengthened CooperSurgical's product portfolio. PARAGARD® is the only hormone-free, long lasting, reversible contraceptive approved by the United States Food and Drug Administration (FDA) available in the United States.

The Company has accounted for the acquisition of PARAGARD as a purchase of assets in accordance with ASC Topic 805, Business Combinations, and ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, whereby the Company recognized assets acquired based on their estimated relative fair values on the acquisition date. Due to the required screening test, the acquisition does not meet the definition of a business as substantially all the fair value of the gross assets acquired is concentrated in a single identifiable asset. The Company retained independent appraisers to advise management in the determination of the relative fair value of the various assets acquired and liabilities assumed. The values assigned in these financial statements represent management’s best estimate of relative fair values as of the acquisition date.

The following table summarizes the relative fair values of net assets acquired and liabilities assumed using the cost accumulation and allocation model:



(In millions)	Relative Fair Value
Composite intangible asset ⁽¹⁾	$	1,061.9
Assembled workforce intangible asset⁽²⁾	1.2
Property, plant and equipment	2.0
Inventory ⁽³⁾	47.3
Other assets	9.4
Total assets acquired	$	1,121.8
Less: liabilities assumed	16.4
Total Purchase Price	$	1,105.4

The Company proportionally allocated the acquisition costs to the net assets acquired. The acquisition-related costs included advisory, legal, valuation and other professional fees.

⁽¹⁾Composite Intangible asset consists of technology, trade name, New Drug Application (NDA) approval and physician relationships, which have been valued as a single composite intangible asset as they are inextricably linked. The composite asset was identified as the primary asset acquired, was valued using the Multi-Period Excess Earnings Method and will be amortized over 15 years.

⁽²⁾An assembled workforce was recognized as a separate acquired intangible asset, given the purchase of assets and will be amortized over 5 years.

⁽³⁾Inventory relative fair value includes step up of $45.4 million.

As PARAGARD was considered an asset purchase as opposed to a business acquisition in accordance with the guidance under ASC 805, Business Combinations, and ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, the Company has not included proforma financial information which is applicable for a business acquisition.

Other Acquisitions

On April 3, 2018, CooperSurgical completed the acquisition of a privately held company that specializes primarily in in-vitro fertilization (IVF) media. This acquisition product categories include media products as well as IVF laboratory air filtration products and dishware.

On January 4, 2018, CooperVision acquired a long-standing distribution partner, with a leading position in the distribution of contact lenses to the Optical and Pharmacy sector in Israel.

On December 1, 2017, CooperVision acquired a leading provider of orthokeratology (ortho-k) specialty contact lenses and oxygen permeable rigid contact lens materials. ortho-k contact lenses are overnight lenses which enable corneal topography correction for myopia (nearsightedness) patients.

Intangible Assets

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Goodwill



(In millions)	CooperVision		CooperSurgical			Total
Balance at October 31, 2018	$	1,742.9	$	649.2		$	2,392.1
Net additions	14.1		22.0			36.1
Foreign currency translation adjustment	8.4		(7.7		)	0.7
Balance at October 31, 2019	$	1,765.4	$	663.5		$	2,428.9
Net additions	13.5		1.8			15.3
Foreign currency translation adjustment	0.4		2.7			3.1
Balance at October 31, 2020	$	1,779.3	$	668.0		$	2,447.3

Of the October 31, 2020 goodwill balance, $134.2 million for CooperSurgical and $26.9 million for CooperVision is expected to be deductible for tax purposes. Of the October 31, 2019 goodwill balance, $146.8 million for CooperSurgical and $29.2 million for CooperVision was expected to be deductible for tax purposes.

The Company evaluates goodwill annually during the fiscal third quarter and whenever an event occurs or circumstances change such that it is reasonably possible that impairment may exist. The Company accounts for goodwill, evaluates and tests goodwill balances for impairment in accordance with related accounting standards.

The Company performed its annual impairment assessment in the third quarter of each of fiscal 2020 and 2019, which indicated that there was no impairment of goodwill in reporting units at either time. Qualitative factors considered in the assessment include industry and market considerations, overall financial performance and other relevant events and factors affecting each reporting unit. Based on our qualitative assessment, if we determine that the fair value of a reporting unit is more likely than not to be less than its carrying amount, the fair value of a reporting unit will be compared with its carrying amount and an impairment charge will be recognized for the amount that the carrying value exceeds the fair value of the reporting unit. A reporting unit is the level of reporting at which goodwill is tested for impairment. Our reporting units are CooperVision, Office/Surgical and Fertility, which reflects the current way we manage our business.

Other Intangible Assets



	October 31, 2020				October 31, 2019
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted Average Amortization Period (in years)
Intangible assets with definite lives:
Trademarks	$	153.4	$	37.7	$	148.5	$	27.3	14
Composite intangible asset	1,061.9		212.4		1,061.9		141.6		15
Technology	401.2		251.9		399.9		221.2		11
Customer relationships	367.0		216.2		357.6		194.0		13
License and distribution rights and other	31.8		18.2		27.9		15.3		10
	2,015.3		$	736.4	1,995.8		$	599.4	14
Less: accumulated amortization and translation	736.4				599.4
Intangible assets with definite lives, net	$	1,278.9			$	1,396.4
Intangible assets with indefinite lives, net ⁽¹⁾	10.1				8.9
Total other intangible assets, net	$	1,289.0			$	1,405.3

⁽¹⁾Intangible assets with indefinite lives include technology and trademarks.

Balances include foreign currency translation adjustments.

In the second quarter of fiscal 2019, CooperSurgical sold an exclusive distribution right to distribute Filshie Clip System in the U.S. for $21.0 million and recognized a gain of $19.0 million.

As of October 31, 2020, the estimation of amortization expenses for intangible assets with definite lives is as follows:



Fiscal years:	(In millions)
2021	$	136.4
2022	134.5
2023	132.3
2024	128.1
Thereafter	747.6
Total remaining amortization for intangible assets with definite lives	$	1,278.9

The Company assesses definite-lived intangible assets whenever events or changes in circumstances indicate that the carrying amount of a definite-lived intangible asset (asset group) may not be recoverable. When events or changes in circumstances indicate that the carrying amount of a definite-lived intangible asset may not be recoverable, the Company evaluates whether the definite-lived intangible asset is impaired by comparing its carrying value to its undiscounted future cash flows. The Company assesses indefinite-lived intangible assets annually in the third quarter of the fiscal year, or whenever events or circumstances indicate that the carrying amount of an indefinite-lived intangible asset (asset group) may not be recoverable. The Company evaluates whether the indefinite-lived intangible asset is impaired by comparing its carrying value to its fair value.

If the carrying value of a definite-lived or indefinite-lived intangible asset is not recoverable, an impairment loss is recognized based on the amount by which the carrying value exceeds the fair value. The inputs used in the fair value analysis fall within Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine fair value. The Company performs impairment tests using an

income approach, more specifically a relief from royalty method. In the development of the forecasted cash flows, the Company applies significant management judgment to determine key assumptions, including revenue growth and operating margin growth, royalty rates and discount rates assumptions. Revenue and operating margin growth assumptions are based on historical trends and management’s expectations for future growth. Royalty rates used are consistent with those assumed for the original purchase accounting valuation. The discount rates were based on a weighted-average cost of capital utilizing industry market data of similar companies, in addition to estimated returns on the assets utilized in the operations of the applicable reporting unit, including net working capital, fixed assets and intangible assets. Other assumptions are consistent with those applied to goodwill impairment testing.

Given the general deterioration in economic and market conditions surrounding the COVID-19 pandemic, the Company considered the impact that the COVID-19 pandemic may have on its near and long-term forecasts and determined that it was not more likely than not that the fair value of reporting units or relevant asset groups was below carrying amounts, and therefore the Company determined that there was no impairment to either its goodwill, definite-lived or indefinite-lived intangible assets during fiscal 2020.

Debt

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Debt



October 31, (In millions)	2020			2019
Overdraft and other credit facilities	$	59.4		$	63.7
Term loans	350.0			500.0
Less: unamortized debt issuance cost	(0.1		)	—
Short-term debt	$	409.3		$	563.7

Revolving credit	$	534.0		$	264.0
Term loans	850.0			1,000.0
Other	0.2			0.2
Less: unamortized debt issuance cost	(0.3		)	(1.6		)
Long-term debt	$	1,383.9		$	1,262.6
Total debt	$	1,793.2		$	1,826.3

Fiscal year maturities of long-term debt as of October 31, 2020, are as follows:



Year (In millions)
2021	$	—
2022	$	—
2023	$	—
2024	$	—
2025	$	1,384.2
Thereafter	$	—

Term Loan Agreement on October 16, 2020

On October 16, 2020, the Company entered into a 364-day, $350.0 million, term loan agreement by and among the Company, the lenders party thereto and The Bank of Nova Scotia, as administrative agent which matures on October 15, 2021. The funds were used to partially repay outstanding borrowings under the 2020 Revolving Credit Facility (as defined below). At October 31, 2020, the Company had $350.0 million outstanding under this agreement.

Amounts outstanding under this agreement will bear interest, at the Company's option, at either the base rate, or the adjusted LIBO rate, plus, in each case, an applicable rate of 0.00% in respect of base rate loans and 0.80% in respect of adjusted LIBO rate loans. The interest rate was 0.93% at October 31, 2020.

This agreement contains customary restrictive covenants, as well as financial covenants that require the Company to maintain a certain Total Leverage Ratio and Interest Coverage Ratio consistent with the 2020 Credit Agreement discussed below.

Revolving Credit and Term Loan Agreement on April 1, 2020

On April 1, 2020, the Company entered into a Revolving Credit and Term Loan Agreement (the 2020 Credit Agreement), among the Company, CooperVision International Holding Company, LP, CooperSurgical Netherlands B.V., CooperVision Holding Kft. the lenders from time to time party thereto, and KeyBank National Association, as administrative agent. The 2020 Credit Agreement provides for (a) a multicurrency revolving credit facility (the 2020 Revolving Credit Facility) in an aggregate principal amount of $1.29 billion and (b) a term loan facility (the 2020 Term Loan Facility) in an aggregate principal amount of $850.0 million, each of which, unless terminated earlier, mature on April 1, 2025. In addition, the Company has the ability from time to time to request an increase to the size of the revolving credit facility or establish one or more new term loans under the term loan facility in an aggregate amount up to $1.605 billion, subject to the discretionary participation of the lenders.

Amounts outstanding under the 2020 Credit Agreement will bear interest, at the Company’s option, at either the base rate, or the adjusted LIBO rate or adjusted foreign currency rate, plus, in each case, an applicable rate of between 0.00% and 0.50% in respect of base rate loans, and between 0.75% and 1.50% in respect of adjusted LIBO rate or adjusted foreign currency rate loans, in each case in accordance with a pricing grid tied to the Total Leverage Ratio, as defined in the 2020 Credit Agreement. During the term of the 2020 Revolving Credit Facility, the Borrowers may borrow, repay and re-borrow amounts available under the Revolving Credit Facility, subject to voluntary reduction of the revolving commitment.

The Company pays an annual commitment fee that ranges from 0.10% to 0.20% of the unused portion of the 2020 Revolving Credit Facility based upon the Company’s Total Leverage Ratio, as defined in the 2020 Credit Agreement. In addition to the annual commitment fee, the Company is also required to pay certain letter of credit and related fronting fees and other administrative fees pursuant to the terms of the 2020 Credit Agreement.

On April 1, 2020, the Company borrowed $850.0 million under the 2020 Term Loan Facility and $445.0 million under the 2020 Revolving Credit Facility and used the proceeds to fully repay all borrowings outstanding under a previously existing term loan agreement and transfer all letters of credit and borrowings outstanding under a previously existing credit agreement to the 2020 Credit Agreement, as further described below.

On October 30, 2020, the Company entered into Amendment No. 1 to the 2020 Credit Agreement (the First Amendment to the 2020 Credit Agreement). The First Amendment to the 2020 Credit Agreement modifies the 2020 Credit Agreement by, among other things, adding CooperVision International Limited as a revolving borrower and releasing certain borrowers in the 2020 Credit Agreement.

At October 31, 2020, the Company had $850.0 million outstanding under the 2020 Term Loan Facility and $534.0 million outstanding under the 2020 Revolving Credit Facility. The interest rate on the 2020 Term Loan Facility was 1.15% at October 31, 2020. The interest rate on the 2020 Revolving Credit Facility was 1.15% at October 31, 2020. In fiscal 2020, the Company expensed $1.8 million, related to the debt issuance costs of the 2020 Term Loan Facility.

The 2020 Credit Agreement contains customary restrictive covenants, as well as financial covenants that require the Company to maintain a certain Total Leverage Ratio and Interest Coverage Ratio, each as defined in the 2020 Credit Agreement:


•	Interest Coverage Ratio, as defined, to be at least 3.00 to 1.00 at all times.


•	Total Leverage Ratio, as defined, to be no higher than 3.75 to 1.00.

At October 31, 2020, the Company was in compliance with the Interest Coverage Ratio at 21.19 to 1.00 and the Total Leverage Ratio at 2.15 to 1.00 for 2020 Credit Agreement. The Company, after considering the potential impacts of the COVID-19 pandemic, expects to remain in compliance with its financial maintenance covenant and meet its debt service obligations for at least the twelve months following the date of issuance of these financial statements.

$500 million Term Loan on September 27, 2019, amended on April 1, 2020

On November 1, 2018, the Company entered into a 364-day senior unsecured term loan agreement (the 2018 Term Loan Agreement) by and among the Company, the lenders party thereto and PNC Bank, National Association, as administrative agent which was scheduled to mature on October 31, 2019. On September 27, 2019, the Company amended the 2018 Term Loan Agreement to establish a new 364-day senior unsecured term loan (the 2019 Term Loan Agreement) with the same parties as the 2018 Term Loan Agreement. The 2019 Term Loan Agreement modifies certain provisions of the 2018 Term Loan Agreement which, among other things, extended the maturity date to September 25, 2020 and increased the aggregate principal amount of the term loan facility from an original amount of $400 million to $500 million. The Company used the additional funds to partially repay outstanding borrowings.

On April 1, 2020, the Company entered into Amendment No. 2 to the 2018 Term Loan Agreement (the Second Amendment to the 2018 Term Loan Agreement). The Second Amendment to the 2018 Term Loan Agreement further modifies the 2018 Term Loan Agreement by, among other things, conforming certain provisions therein to those contained in the 2020 Credit Agreement discussed above.

At maturity, on September 25, 2020, outstanding amounts under the 2019 Term Loan Agreement (including the Second Amendment to the 2018 Term Loan Agreement) were fully repaid using borrowings under the 2020 Revolving Credit Facility.

The following is a summary of the maximum commitments and the net amounts available to the Company under the credit facilities discussed above as of October 31, 2020:



(In millions)	Facility Limit		Outstanding Borrowings		Outstanding Letters of Credit		Total Amount Available		Maturity Date
2020 Revolving Credit Facility	$	1,290.0	$	534.0	$	1.4	$	754.6	April 1, 2025
2020 Term Loan Facility	850.0		850.0		n/a		—		April 1, 2025
2020 Term Loan	350.0		350.0		n/a		—		October 15, 2021
Total	$	2,490.0	$	1,734.0	$	1.4	$	754.6

European Credit Facilities

The Company maintains European credit facilities in the form of continuing and unconditional guarantees. The aggregate facility limit was $25.8 million and $34.6 million at October 31, 2020 and 2019, respectively. The Company will pay all forms of indebtedness in the currency in which it is denominated for those certain subsidiaries. Interest expense is calculated on all outstanding balances based on an applicable base rate for each country plus a fixed spread common across most subsidiaries covered under the guaranty. At October 31, 2020, $0.7 million of the facilities were utilized. The weighted average interest rate on the outstanding balances was 1.59%.

Asian Pacific Credit Facilities

The Company maintains Yen-denominated credit facilities in Japan supported by continuing and unconditional guarantees. The aggregate facility limit was $76.6 million and $69.3 million at October 31, 2020 and 2019, respectively. The Company will pay all forms of indebtedness in Yen upon demand. Interest expense is calculated on the outstanding balance based on the base rate or TIBOR plus a fixed spread. At October 31, 2020, $57.7 million of the combined facilities were utilized. The weighted average interest rate on the outstanding balances was 0.43%.

The Company maintains credit facilities for certain of our Asia Pacific subsidiaries. Each facility is supported by a continuing and unconditional guaranty. The aggregate facility limit was $11.2 million and $10.8 million at October 31, 2020 and 2019, respectively. The Company will pay all forms of indebtedness, for each facility, in the currency in which it is denominated for those certain subsidiaries. Interest expense is calculated on all outstanding balances based on an applicable base rate for each country plus a fixed spread across all subsidiaries covered under each guaranty. At October 31, 2020, $0.4 million of the facilities were utilized. The weighted average interest rate on the outstanding balances was 2.41%.

Letters of Credit

The Company maintain letters of credit throughout the world with various financial institutions that primarily serve as guarantee notes on certain debt obligations. The aggregate outstanding amount of letters of credit at October 31, 2020 and October 31, 2019 was $4.5 million and $4.8 million, respectively.

Income Taxes

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Recent Tax Legislation

Coronavirus Aid, Relief and Economic Security Act

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was enacted and signed into law in response to the market volatility and instability resulting from the COVID-19 pandemic. It includes a significant number of tax provisions and lifts certain deduction limitations originally imposed by the Tax Cuts and Jobs Act of 2017 (the 2017 Act). The changes are mainly related to: (1) the business interest expense disallowance rules for 2019 and 2020; (2) net operating loss rules; (3) charitable contribution limitations; (4) employee retention credit; and (5) the realization of corporate alternative minimum tax credits.

The Company continues to assess the impact and future implications of these provisions; however, it does not anticipate any amounts that could give rise to a material impact to the overall Consolidated Financial Statements.

Effective Tax Rate

The Company’s effective tax rate (ETR) was 10.6% and 2.3% for fiscal 2020 and fiscal 2019, respectively. The ETR in fiscal 2020 increased in comparison to fiscal 2019 primarily due to foreign earnings subject to US tax, partially offset by a shift in the geographic mix of income.

The ETR for both fiscal 2020 and fiscal 2019 was less than the US federal statutory tax rate primarily due to foreign earnings in jurisdictions with lower tax rates, a step-up of the US tax-deductible basis of intellectual property rights from intra-entity sales and excess tax benefits from share-based compensation. This was partially offset by foreign earnings subject to US tax. The jurisdictions with lower tax rates with the most significant tax impact include Barbados, Puerto Rico and the United Kingdom.

The ETR for fiscal 2018 was greater than the US federal statutory tax rate primarily due to enactment of the 2017 Tax Act. This was partially offset by foreign earnings in jurisdictions with lower tax rates and

excess tax benefits from share-based compensation. The jurisdictions with lower tax rates with the most significant tax impact include Barbados, Puerto Rico and the United Kingdom.

The components of income before income taxes and the income tax provision related to income from all operations in our Consolidated Statements of Income consist of:



Years Ended October 31, (In millions)	2020			2019			2018
Income before income taxes:
United States	$	(88.0	)	$	(32.8	)	$	(122.8	)
Foreign	354.5			510.2			454.7
	$	266.5		$	477.4		$	331.9
Income tax provision	$	28.1		$	10.7		$	192.0

The income tax provision (benefit) related to income in our Consolidated Statements of Income consists of:



Years Ended October 31, (In millions)	2020			2019			2018
Current:
Federal	$	1.4		$	9.2		$	165.6
State	1.1			1.6			0.5
Foreign	26.5			15.8			23.0
	29.0			26.6			189.1
Deferred:
Federal	3.2			(8.1		)	16.1
State	0.8			(0.9		)	1.0
Foreign	(4.9		)	(6.9		)	(14.2		)
	(0.9		)	(15.9		)	2.9
Income tax provision	$	28.1		$	10.7		$	192.0

We reconcile the provision for income taxes attributable to income from operations and the amount computed by applying the statutory federal income tax rate of 21% for fiscal 2020 and 2019, and 23% for fiscal 2018, to income before income taxes as follows:



Years Ended October 31, (In millions)	2020			2019			2018
Computed expected provision for taxes	$	56.0		$	100.3		$	77.5
(Decrease) increase in taxes resulting from:
Income earned outside the United States subject to different tax rates	(54.7		)	(85.6		)	(97.5		)
State taxes, net of federal income tax benefit	1.9			0.4			(4.9		)
Foreign source income subject to United States tax	32.0			16.1			—
U.S. tax reform	—			(5.8		)	214.6
Incentive stock option compensation and non-deductible employee compensation	(4.4		)	(7.8		)	(11.1		)
Deferred tax asset step-up	(9.0		)	(6.7		)	(1.9		)
US provision-to-return	7.0			4.4			(0.7		)
Tax accrual adjustment	(0.1		)	(1.5		)	13.9
Other, net	(0.6		)	(3.1		)	2.1
Actual provision for income taxes	$	28.1		$	10.7		$	192.0

The tax effects of temporary differences that give rise to the deferred tax assets and liabilities are:



Years Ended October 31, (In millions)	2020			2019
Deferred tax assets:
Accounts receivable, principally due to allowances for doubtful accounts	$	2.6		$	3.6
Inventories	5.8			3.5
Litigation settlements	0.2			0.1
Accrued liabilities, reserves and compensation accruals	76.9			55.1
Foreign deferred tax assets	90.9			52.5
Restricted stock and stock option expenses	21.4			26.1
Net operating loss carryforwards	9.6			8.3
Intangible assets	19.6			11.1
Research and experimental expenses - Section 59(e)	9.2			2.5
Tax credit carryforwards	1.5			1.3
Total gross deferred tax assets	237.7			164.1
Less: valuation allowance	(45.3		)	(41.5		)
Deferred tax assets	192.4			122.6
Deferred tax liabilities:
Tax deductible goodwill	(29.7		)	(25.0		)
Plant and equipment	(39.2		)	(14.3		)
Deferred tax on foreign earnings	(7.5		)	(5.9		)
Transaction costs	(0.7		)	(0.7		)
Foreign deferred tax liabilities	(61.0		)	(27.6		)
Total gross deferred tax liabilities	(138.1		)	(73.5		)
Net deferred tax assets	$	54.3		$	49.1

In assessing the realizability of deferred tax assets, the Company analyzes whether some or all deferred tax assets will not be realized. This analysis considers historical taxable income, the projected reversal of deferred tax liabilities, projected taxable income and tax planning strategies. Based upon this analysis, it is more likely than not the deferred tax assets, net of valuation allowance, will be realized. The valuation allowance is $45.3 million and $41.5 million for fiscal 2020 and fiscal 2019, respectively. The increase is primarily due to state net operating loss carryforwards and foreign tax credits.

At October 31, 2020, we had federal net operating loss carryforwards of $20.3 million, state net operating loss carryforwards of $16.3 million, and $1.9 million of California research credit carryforwards. Federal net operating loss carryforwards of $15.8 million expire on various dates between 2024 and 2037 and $4.5 million does not expire. The state net operating loss carryforwards expire on various dates between 2021 through 2040, and the California research credit carryforwards do not expire.

The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized from such positions are estimated based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The changes in the balance of unrecognized tax benefits (UTB) were as follows:



(In millions)
Balance at October 31, 2018	$	68.9
Decrease from prior year's UTB's	(11.8		)
Increase from current year's UTB's	8.3
UTB (decrease) from tax authorities' settlements	(14.1		)
UTB (decrease) from expiration of statute of limitations	(1.6		)
Balance at October 31, 2019	$	49.7
Increase from prior year's UTB's	3.4
Increase from current year's UTB's	7.6
UTB (decrease) from expiration of statute of limitations	(2.2		)
Balance at October 31, 2020	$	58.5

As of October 31, 2020, 2019 and 2018 there were unrecognized tax benefits of $58.5 million, $49.7 million and $68.9 million, respectively. If recognized, these tax benefits would affect our effective tax rates for 2020, 2019 and 2018, by $46.0 million, $41.7 million and $46.6 million, respectively. It is the Company's policy to recognize interest and penalties related to income tax as income tax expense. As of October 31, 2020, 2019 and 2018, we had accrued gross interest and penalties related to unrecognized tax benefits of $7.3 million, $3.9 million and $4.4 million, respectively.

Included in the balance of unrecognized tax benefits at October 31, 2020, is $7.2 million related to tax positions for which it is reasonably possible that the total amounts could significantly change during the next twelve months.

Filed tax returns are subject to examination by tax authorities in major tax jurisdictions after fiscal 2014.

Intellectual property rights

In November 2020, the Company completed an intra-group transfer of certain intellectual property and related operating assets and liabilities to its UK subsidiary as part of a group restructuring to establish headquarters operation in the UK. Under US GAAP, any profit resulting from this transfer will be eliminated upon consolidation. However, the transfer resulted in a step-up of the UK tax-deductible basis

in the transferred assets, including goodwill, and created a temporary difference between the book basis and the tax basis of these assets. As a result, the Company expects to recognize a deferred tax asset of up to $2.4 billion, with a corresponding income tax benefit. The valuation of the transferred assets, and the calculation of the amount of the deferred tax asset, will be finalized during the first quarter of fiscal 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings Per Share

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share



Years Ended October 31,
(In millions, except for earnings per share)	2020		2019		2018
Net income attributable to Cooper stockholders	$	238.4	$	466.7	$	139.9
Basic:
Weighted average common shares	49.1		49.4		49.1
Basic earnings per share attributable to Cooper stockholders	$	4.85	$	9.44	$	2.85
Diluted:
Weighted average common shares	49.1		49.4		49.1
Effect of dilutive stock options	0.5		0.6		0.6
Diluted weighted average common shares	49.6		50.0		49.7
Diluted earnings per share attributable to Cooper stockholders	$	4.81	$	9.33	$	2.81

The following table sets forth stock options to purchase our common stock and restricted stock units that were not included in the diluted earnings per share calculation because their effect would have been antidilutive for the periods presented:



Years Ended October 31,
(In thousands, except exercise prices)	2020		2019		2018
Stock option shares excluded	207		198		257
Range of exercise prices	$	304.54	$	254.77	$226.30 - $230.09
Restricted stock units excluded	1		8		21

Stockholders' Equity

12 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Analysis of Changes in Accumulated Other Comprehensive Income (Loss):



(In millions)	Foreign Currency Translation Adjustment			Derivatives			Minimum Pension Liability			Total
Balance at October 31, 2017	$	(353.7	)	$	—		$	(21.6	)	$	(375.3	)
Gross change in value	(58.5		)	—			11.0			(47.5		)
Tax effect	—			—			(3.1		)	(3.1		)
ASU 2018-02 adoption ⁽¹⁾	—			—			(4.8		)	(4.8		)
Balance at October 31, 2018	$	(412.2	)	$	—		$	(18.5	)	$	(430.7	)
Gross change in value	$	9.0		$	—		$	(33.4	)	$	(24.4	)
Tax effect	—			—			8.0			8.0
Balance at October 31, 2019	$	(403.2	)	$	—		$	(43.9	)	$	(447.1	)
Gross change in value	$	0.9		$	(17.1	)	$	(16.8	)	$	(33.0	)
Tax effect	—			4.1			4.0			8.1
Balance at October 31, 2020	$	(402.3	)	$	(13.0	)	$	(56.7	)	$	(472.0	)


⁽¹⁾	Represents reclassification to retained earnings from adoption of ASU 2018-02.

Share Repurchases

In December 2011, the Company's Board of Directors authorized the 2012 Share Repurchase Program and through subsequent amendments, the most recent in March 2017, the total repurchase authorization was increased from $500.0 million to $1.0 billion of the Company's common stock. The program has no expiration date and may be discontinued at any time. Purchases under the 2012 Share Repurchase Program are subject to a review of the circumstances in place at the time and may be made from time to time as permitted by securities laws and other legal requirements.

For the years ended October 31, 2020 and 2019, the Company share repurchases were as follow:



Periods Ended October 31,	2020		2019
Number of shares	160,850		536,972
Average repurchase price per share	$	296.9	$	290.7
Total costs of shares repurchased (in millions)	$	47.8	$	156.1

At October 31, 2020, $359.7 million remained authorized for repurchase under the program.

Dividends

In fiscal 2020 and 2019, the Company paid a semiannual dividend of 3 cents per share: $1.5 million or 3 cents per share on February 10, 2020 to stockholders of record on January 23, 2020; $1.5 million or 3 cents on August 7, 2020 to stockholders of record on July 23, 2020; $1.5 million or 3 cents per share on February 8, 2019 to stockholders of record on January 22, 2019; $1.5 million or 3 cents per share on August 7, 2019 to stockholders of record on July 23, 2019.

Stock Plans

12 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Plans

2020 Long-Term Incentive Plan for Non-Employee Directors (2020 Directors Plan)

In March 2020, we received stockholder approval of the 2020 Directors Plan. The 2020 Directors Plan authorizes either the Company's Board of Directors or a designated committee thereof composed of two or more Non-Employee Directors to grant to Non-Employee Directors equity awards for up to 50,000 shares of common stock, subject to adjustment for future stock splits, stock dividends, expirations, forfeitures and similar events.

The 2020 Directors Plan provides for annual equity award grants to Non-Employee Directors on April 1^st of each fiscal year which subsequently vest on the first anniversary of the date of grant. Grants can be awarded in the form of stock options, restricted stock, restricted stock units (RSUs), or a combination of award types. Awards are made with a total target grant date value of $270,000, or $283,500 in the case of the Lead Director and $297,000 in the case of the Chairman of the Board.

Under the 2020 Directors Plan, awards are made in the form of RSUs unless otherwise approved by the Board of Directors. RSUs entitle the recipient to receive shares of common stock, without any payment in cash or property. Legal ownership of the shares is not transferred until the unit vests and issued RSUs have no dividend or voting rights prior to vesting. Awards may also be made in the form of stock options or restricted stock. In the event of such awards, grants of stock options will have an exercise price equal to 100% of fair market value on the date of grant and expire no more than 10 years after the grant date. Awards of restricted stock provide the right to receive shares, subject to such purchase price requirements,

restrictions on sale or transfer, or other conditions as approved by the Board of Directors. Restricted shares retain dividend and voting rights.

As of October 31, 2020, 42,929 shares remain available under the 2020 Directors' Plan for future grants.

2007 Long-Term Incentive Plan (2007 Plan)

In March 2007, we received stockholder approval of the 2007 Plan. The 2007 Plan was subsequently amended and restated, and granted stockholder approval in March 2009, March 2011, and March 2016.

The Third Amended and Restated 2007 Plan is designed to increase our stockholder value by attracting, retaining and motivating key employees and consultants who directly influence our profitability. The Third Amended and Restated 2007 Plan authorizes either our Board of Directors, or a designated committee thereof composed of two or more Non-Employee Directors, to grant to eligible individuals during the period ending December 31, 2026, up to 6,930,000 shares in the form of specified equity awards including stock option, restricted stock unit and performance share awards, subject to adjustment for future stock splits, stock dividends, expirations, forfeitures and similar events.

During fiscal 2020, we granted stock options and restricted stock units (RSUs) to employees under the Third Amended and Restated 2007 Plan. Prior to fiscal 2020 we also granted performance share awards to employees. All stock options are granted at 100% of fair market value on the date of grant and expire no more than 10 years after the grant date. RSUs are nontransferable awards entitling the recipient to receive shares of common stock, without any payment in cash or property, in one or more installments at a future date or dates as determined by the Board of Directors or its authorized committee. For RSUs, legal ownership of the shares is not transferred to the employee until the unit vests, which is generally over a specified time period and RSUs have no dividend or voting rights prior to vesting. Performance share awards are nontransferable awards entitling the recipient to receive a variable number of shares of common stock, without any payment in cash or property, in one or more installments at a future date or dates as determined by the Board of Directors or its authorized committee. Legal ownership of the shares is not transferred to the recipient until the award vests, and the number of shares distributed is dependent upon the achievement of certain performance targets over a specified period of time.

As of October 31, 2020, 1,088,901 shares remained available under the Third Amended and Restated 2007 Plan for future grants. The amount of available shares includes shares which may be distributed under performance share awards.

Share-Based Compensation

Compensation expense and the related tax benefit recognized in our consolidated financial statements for share-based awards, including the Employee Stock Purchase Plan, were as follows:



October 31,
(In millions)	2020		2019		2018
Selling, general and administrative expense	$	32.2	$	28.7	$	37.6
Cost of sales	4.0		4.7		3.6
Research and development expense	2.4		2.9		2.0
Total compensation expense	$	38.6	$	36.3	$	43.2
Related income tax benefit	$	4.8	$	5.1	$	8.8

Stock Options

The fair value of each stock option award granted is estimated on the date of grant using the Black-Scholes option valuation model and assumptions noted in the following table. The expected life of the awards is based on the observed and expected time to post-vesting forfeiture and/or exercise. Groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. In determining the expected volatility, management considers implied volatility from publicly-traded options on our common stock at the date of grant, historical volatility and other factors. The risk-free interest rate is based on the continuous rates provided by the United States Treasury with a term equal to the expected life of the option. The dividend yield is based on the projected annual dividend payment per share, divided by the stock price at the date of grant.



Years Ended October 31,	2020		2019		2018
Expected life	4.4 years		4.4 years		5.4 years
Expected volatility	24.5	%	22.0	%	23.0	%
Risk-free interest rate	1.6	%	2.9	%	2	%
Dividend yield	0.02	%	0.02	%	0.03	%

The activity and status of our stock option plans are summarized below:



	Number of Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at October 31, 2019	1,024,752		$	186.24
Granted	212,046		$	304.54
Exercised	(105,045	)	$	128.43
Forfeited or expired	(28,246	)	$	223.28
Outstanding at October 31, 2020	1,103,507		$	213.53	6.44
Vested and expected to vest at October 31, 2020	1,060,738		$	211.04	6.36	$	114,567,509
Vested and exercisable at October 31, 2020	430,926		$	167.09	5.01	$	65,485,571

The weighted-average fair value of each option granted during fiscal 2020, estimated as of the grant date using the Black-Scholes option pricing model, for the 2007 Plan was $70.45. No options were granted under the 2020 Directors Plan in fiscal 2020. The total intrinsic value of options exercised during the fiscal year ended October 31, 2020 was $22.6 million.

The weighted-average fair value of each option granted during fiscal 2019, estimated as of the grant date using the Black-Scholes option pricing model, for the 2007 Plan was $60.71.

Stock awards outstanding under our current plans have been granted at prices which are either equal to or above the market value of the common stock on the date of grant. Options granted under the 2007 Plan generally vest over a range of three to five years based on service conditions and expire no later than ten years after the grant date. Options granted under the 2020 Directors Plan generally vested in one year and expire no later than ten years after the grant date. We generally recognize compensation expense ratably over the vesting period. However, Directors' options grants would have been expensed on the date of grant as the 2020 Directors Plan did not contain a substantive future requisite service period. As of October 31, 2020, there was $20.9 million of total unrecognized compensation cost related to nonvested options, which is expected to be recognized over a remaining weighted-average vesting period of 3.4 years.

Restricted Stock Units

RSUs granted under the 2007 Plan generally vest over three to five years. RSUs granted under the 2020 Directors Plan vest in one year. The fair value of RSUs is estimated on the date of grant based on the market price of our common stock. We recognize compensation expense ratably over the vesting period. As of October 31, 2020, there was $61.6 million of total unrecognized compensation cost related to nonvested RSUs, which is expected to be recognized over a remaining weighted-average vesting period of 3.2 years.

The status of our non-vested RSUs is summarized below:



	Number of Shares		Weighted- Average Grant Date Fair Value Per Share
Non-vested RSUs at October 31, 2019	429,571		$	210.72
Granted	130,610		$	301.59
Vested and issued	(151,613	)	$	192.10
Forfeited or expired	(39,948	)	$	242.12
Non-vested RSUs at October 31, 2020	368,620		$	247.09

Performance Units

Performance units may be granted to selected key employees with vesting contingent upon meeting future reported earnings per share goals over a defined performance cycle, usually three years. Performance units, if earned, may be paid in cash or shares of common stock. The performance shares actually earned will range from zero to 150% of the target number of performance shares for performance periods ending in fiscal 2019 through fiscal 2020. Subject to limited exceptions set forth in the performance share plan, any shares earned will be distributed in the subsequent fiscal year after the performance period. The fair value of performance unit awards is estimated on the date of grant based on the current market price of our common stock and the estimate of probability of award achievement. This estimate is reviewed each fiscal quarter and adjustments are recorded if it is determined that the estimate of probability of award achievement has changed.

We recognize compensation expense ratably over the vesting period. As of October 31, 2020, there was no unrecognized compensation cost related to non-vested performance units.

Employee Stock Purchase Plan

On March 18, 2019, the Company received stockholder approval for the Employee Stock Purchase Plan (ESPP). The first offering period began on November 4, 2019 and offerings are generally made on a quarterly basis. The purpose of the ESPP is to provide eligible employees of the Company with the opportunity to acquire shares of common stock at 85% of the market price on the last business day of each offering period by means of accumulated payroll deductions. Payroll deductions will be limited to maximum of 15% of the employee’s eligible compensation, not to exceed $21.3 thousand in any one calendar year. The ESPP initially authorized the issuance of 1,000,000 shares of common stock. These shares will be made available from shares of common stock reacquired by the Company as Treasury Stock. During fiscal year ended October 31, 2020, we issued 11,641 shares to our employees under the ESPP. At October 31, 2020, the number of shares remaining available for future issuance under the ESPP was 988,359 shares. Total ESPP share-based compensation recognized during the fiscal year ended October 31, 2020 was $0.7 million.

Employee Benefits

12 Months Ended

Oct. 31, 2020

Retirement Benefits [Abstract]

Employee Benefits

Cooper's Retirement Income Plan

Cooper's Retirement Income Plan (Plan), a defined benefit plan, covers substantially all full-time United States employees. Cooper's contributions are designed to fund normal cost on a current basis and to fund the estimated prior service cost of benefit improvements. The unit credit actuarial cost method is used to determine the annual cost. Cooper pays the entire cost of the Plan and funds such costs as they accrue. Virtually all of the assets of the Plan are comprised of equities and participation in equity and fixed income funds.

The Company uses individual spot rates along the yield curve that correspond with the timing of each benefit payment to determine the service and interest costs of components of its net periodic benefit cost utilizing the correlation of projected cash outflows and corresponding spot rates on the yield curve.

The following table sets forth the Plan's benefit obligations and fair value of the Plan assets at October 31, 2020, 2019 and 2018 and the funded status of the Plan and net periodic pension costs for each of the years in the three-year periods ended October 31, 2020.

Retirement Income Plan



Years Ended October 31, (In millions)	2020			2019			2018
Change in benefit obligation
Benefit obligation, beginning of year	$	189.7		$	147.1		$	151.7
Service cost	13.9			10.1			10.7
Interest cost	5.2			6.1			5.0
Benefits paid	(10.0		)	(10.2		)	(3.7		)
Actuarial loss (gain)	20.0			36.6			(16.6		)
Benefit obligation, end of year	$	218.8		$	189.7		$	147.1
Change in plan assets
Fair value of plan assets, beginning of year	$	136.0		$	121.0		$	112.8
Actual return on plan assets	10.1			12.1			1.9
Employer contributions	23.4			13.1			10.0
Benefits paid	(10.0		)	(10.2		)	(3.7		)
Fair value of plan assets, end of year	$	159.5		$	136.0		$	121.0
Funded status at end of year	$	(59.3	)	$	(53.7	)	$	(26.1	)



Years Ended October 31, (In millions)	2020			2019			2018
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities	(59.3		)	(53.7		)	(26.1		)
Net amount recognized at year end	$	(59.3	)	$	(53.7	)	$	(26.1	)



Years Ended October 31, (In millions)	2020		2019		2018
Amounts recognized in accumulated other comprehensive income consist of:
Net loss	74.2		57.3		24.0
Accumulated other comprehensive income	$	74.2	$	57.3	$	24.0



Years Ended October 31, (In millions)	2020		2019		2018
Information for pension plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	218.8	$	189.7	$	147.1
Fair value of plan assets	$	159.5	$	136.0	$	121.0



Years Ended October 31, (In millions)	2020		2019		2018
Information for pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation	$	195.8	$	170.8	$	130.5
Fair value of plan assets	$	159.5	$	136.0	$	121.0



Years Ended October 31, (In millions)	2020			2019			2018
Reconciliation of prepaid (accrued) pension cost:
Accrued pension cost at prior fiscal year end	$	(3.7	)	$	2.2		$	4.0
Net periodic benefit cost	12.3			7.2			8.2
Contributions made during the year	(23.4		)	(13.1		)	(10.0		)
Accrued pension cost at fiscal year end	$	(14.8	)	$	(3.7	)	$	2.2



Years Ended October 31, (In millions)	2020			2019			2018
Components of net periodic benefit cost and other amounts recognized in (other comprehensive income) the fiscal year:
Net periodic benefit cost:
Service cost	$	13.9		$	10.1		$	10.7
Interest cost	5.2			6.1			5.0
Expected return on plan assets	(10.8		)	(9.8		)	(9.2		)
Recognized actuarial loss	4.0			0.8			1.7
Net periodic pension cost	$	12.3		$	7.2		$	8.2



Years Ended October 31, (In millions)	2020			2019			2018
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	20.8			34.2			(9.3		)
Amortizations of net (gain)	(4.0		)	(0.8		)	(1.7		)
Total recognized in other comprehensive income	$	16.8		$	33.4		$	(11.0	)
Total recognized in net periodic benefit cost and other comprehensive income	$	29.0		$	40.6		$	(2.8	)



Years Ended October 31,	2020		2019		2018
Weighted-average assumptions used in computing the net periodic pension cost and projected benefit obligation at year end:
Discount rate for determining net periodic pension cost:
Projected Benefit Obligation	3.13	%	4.42	%	3.75	%
Service Cost	3.18	%	4.49	%	3.85	%
Interest Cost	2.78	%	4.22	%	3.39	%
Discount rate for determining benefit obligations at year end	2.78	%	3.13	%	4.42	%
Rate of compensation increase for determining expense	3.60	%	4.00	%	4.00	%
Rate of compensation increase for determining benefit obligations at year end	3.60	%	3.60	%	4.00	%
Expected rate of return on plan assets for determining net periodic pension cost	8.00	%	8.00	%	8.00	%
Expected rate of return on plan assets at year end	8.00	%	8.00	%	8.00	%
Measurement date for determining assets and benefit obligations at year end	10/31/2020		10/31/2019		10/31/2018

The discount rate enables us to state expected future cash flows at a present value on the measurement date. The discount rate used for the Plan is based primarily on the yields of a universe of high quality corporate bonds rated AA or above, with durations corresponding to the expected durations of the benefit obligations. A change in the discount rate will cause the present value of benefit obligations to change in the opposite direction. If a discount rate of 3.13%, which is 1.29% lower than prior fiscal year, had been used, the projected benefit obligation would have been $207.8 million, and the accumulated benefit obligation would have been $186.3 million.

The expected rate of return on plan assets was determined based on a review of historical returns, both for this plan and for medium- to large-sized defined benefit pension funds with similar asset allocations. This review generated separate expected returns for each asset class listed below. These expected future returns were then blended based on this Plan's target asset allocation.

Reasons for Significant Liability Gains and Losses

The projected benefit obligation experienced a net loss of approximately $20.0 million during the year. This loss is primarily due to losses from assumption changes of approximately $18.1 million, and losses of approximately $1.9 million due to demographic experience. The key assumption changes were the decrease in the discount rate (loss of $11.0 million), changes in assumptions for lump sum determination (loss of $8.4 million), and a change to the mortality table (gain of $1.3 million). The primary reasons for demographic losses were salary increases higher than expected, an increase in the number of participants, and the net impact of other demographic changes.

Plan Assets

Weighted-average asset allocations at year end, by asset category are as follows:



Years Ended October 31,	2020		2019		2018
Asset category
Cash and cash equivalents	11.8	%	3.2	%	2.1	%
Corporate common stock	—	%	—	%	14.5	%
Equity mutual funds	57.7	%	63.7	%	47.4	%
Hedging Strategy Funds	4.3	%	4.9	%	—	%
Real estate funds	—	%	—	%	2.7	%
Bond mutual funds	26.2	%	28.2	%	33.3	%
Total	100.0	%	100.0	%	100.0	%

The Plan invests in a diversified portfolio of assets intended to minimize risk of poor returns while maximizing expected portfolio returns. To achieve the long-term rate of return, plan assets will be invested in a mixture of instruments, including but not limited to, corporate common stock (may include the Company's stock), investment grade bond funds, cash, balanced funds, real estate funds, small or large cap equity funds and international equity funds. The allocation of assets will be determined by the investment manager and will typically include 50% to 70% equities with the remainder invested in fixed income, real estate, alternatives and cash. Presently, this diversified portfolio is expected to return roughly 8% in the long run.

As of the measurement date of October 31, 2020, the fair value measurement of plan assets is as follows:



(In millions)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset category
Cash and cash equivalents	$	18.8	$	—	$	18.8	$	—
Equity mutual funds	91.9		91.9		—		—
Hedging Strategy Funds	6.9		6.9		—		—
Bond mutual funds	41.9		15.4		26.5		—
Total	$	159.5	$	114.2	$	45.3	$	—

The Plan has an established process for determining the fair value of plan assets. Fair value is based upon quoted market prices, as Level 1 inputs, where available. For investments in equity and bond mutual funds, and real estate funds, fair value is based on observable, Level 1 inputs, as price quotes are available and the fair values of these funds were not impacted by liquidity restrictions or the fund status. Level 2 assets are those where price quotes are not readily available and the fair value would be determined based on other observable inputs. Level 3 assets are those where price quotes are not readily available and the fair value would be determined based on unobservable inputs.

While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

Plan Cash Flows

Contributions

The Company contributions to the Plan were $23.4 million for fiscal 2020, $13.1 million for fiscal 2019 and, $10.0 million for fiscal 2018. The Company closely monitors the funded status of the Plan with respect to legislative and accounting rules. The Company expects to make contributions of approximately $10.0 million during fiscal 2021.

Estimated Future Benefit Payments



Years (In millions)
2021	$	10.0
2022	$	11.0
2023	$	11.9
2024	$	12.9
2025	$	13.7
2026-2030	$	76.3

Plan Soft Freeze

On June 18, 2019 the Board of Directors of the Company approved a soft freeze of the Plan effective August 1, 2019. The Plan was closed to employees hired on or after August 1, 2019, including former participants or employees rehired on or after August 1, 2019 and employees hired in connection with a stock or asset acquisition, merger or other similar transaction on or after August 1, 2019. Existing employees already covered by the Plan, continue to accrue their benefits. There was no material impact on the Company's results of operations, financial position and cash flows for fiscal 2020 or fiscal 2019.

Cooper's 401(k) Savings Plan

Cooper's 401(k) savings plan provides for the deferral of compensation as described in the Internal Revenue Code and is available to substantially all United States employees. Employees who participate in the 401(k) plan may elect to have up to 75% of their pre-tax salary or wages deferred and contributed to the trust established under the Plan. Cooper's contributions on account of participating employees, were $6.8 million, $6.5 million and $5.9 million for the years ended October 31, 2020, 2019 and 2018, respectively.

International Pension Plans

For its employees outside the United States, the Company also participates in country-specific defined contribution plans and government-sponsored retirement plans. The defined contribution plans are administered by third-party trustees and the Company is not directly responsible for providing benefits to participants of government-sponsored plans. The Company’s contributions to such plans are not significant individually or in the aggregate.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. An asset’s or liability’s level is based on the lowest level of input that is significant to the fair value measurement. Assets and liabilities carried at fair value are valued and disclosed in one of the following three levels of the valuation hierarchy: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. At October 31, 2020 and October 31, 2019, the carrying value of cash and cash equivalents, accounts receivable, prepaid expense and other current assets, lines of credit, accounts payable and other current liabilities approximate fair value due to the short-term nature of such instruments and the ability to obtain financing on similar terms. The carrying value of the Company's revolving credit facility and term loans approximates fair value based on current market rates (Level 2). On April 6, 2020 the Company entered into six interest rate swap contracts which are used to hedge its exposure to changes in cash flows associated with its variable rate term loans and are designated as derivatives in a cash flow hedge. The payment streams are based on a total notional amount of $1.5 billion at the inception of the contracts. The interest rate swap contracts have maturities of seven years or less. On October 1, 2020, one of the six interest rate swap contracts matured. The outstanding contracts as of October 31, 2020 have a total notional amount of $1.4 billion. The gain or loss on the derivatives is recorded as a component of accumulated other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. The fair value of the interest rate swap contracts is measured on a recurring basis by netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on the expectation of future interest rates (forward curves) derived from observable market interest rate curves. The interest rate swap contracts were categorized as Level 2 in the fair value hierarchy, as the inputs to the derivative pricing model are generally observable and do not contain a high level of subjectivity. Refer to Note 14. Financial Derivatives and Hedging for further information. The Company did not have any cross-currency swaps or foreign currency forward contracts as of October 31, 2020. Nonrecurring fair value measurements The Company uses fair value measures when determining assets and liabilities acquired in an acquisition as described in Note 3. Acquisitions which are considered a Level 3 measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Contingencies	12 Months Ended
Contingencies	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Legal Proceedings The Company is involved in various lawsuits, claims and other legal matters from time to time that arise in the ordinary course of conducting business, including matters involving our products, intellectual property, supplier relationships, distributors, competitor relationships, employees and other matters. The Company does not believe that the ultimate resolution of these proceedings or claims pending against it could have a material adverse effect on its financial condition or results of operations. At each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under ASC 450, Contingencies. Legal fees are expensed as incurred.

Business Segment Information

12 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Business Segment Information

The Company discloses information about its operating segments, which were established based on the way that management organizes segments within the Company for making operating decisions and assessing financial performance. The Company's two operating segments are described below.

•

CooperVision. Competes in the worldwide contact lens market by developing, manufacturing and marketing a broad range of products for contact lens wearers, featuring advanced materials and optics. CooperVision designs its products to solve vision challenges such as astigmatism, presbyopia, myopia, ocular dryness and eye fatigues, with a broad collection of spherical, toric and multifocal contact lenses.


•	CooperSurgical. Competes in the general health care market with a focus on advancing the health of women, babies and families through a diversified portfolio of products and services focusing on women's health and fertility.

Cooper uses operating income, as presented in our financial reports, as the primary measure of segment profitability. We do not allocate costs from corporate functions to segment operating income. Items below operating income are not considered when measuring the profitability of a segment. We use the same accounting policies to generate segment results as we do for our consolidated results.

Total net sales include sales to customers as reported in our Consolidated Statements of Income and sales between geographic areas that are priced at terms that allow for a reasonable profit for the seller. Operating income (loss) is total net sales less cost of sales, selling, general and administrative expenses, research and development expenses, amortization and intangible impairments. Corporate operating loss is principally corporate headquarters expense. Interest expense, and other income and expenses are not allocated to individual segments.

No customers accounted for 10% or more of our consolidated net revenue in the fiscal 2020, 2019 and 2018.

Identifiable assets are those used in continuing operations except cash and cash equivalents, which we include as corporate assets. Long-lived assets are net property, plant and equipment.

The following table presents a summary of our business segment net sales:



(In millions)	2020		2019		2018
CooperVision net sales by category:
Toric lens	$	598.2	$	620.0	$	591.4
Multifocal lens	197.0		202.9		196.6
Single-use sphere lens	529.0		568.2		520.1
Non single-use sphere, other	518.8		581.8		573.9
Total CooperVision net sales	1,843.0		1,972.9		1,882.0
CooperSurgical net sales by category:
Office and surgical products	358.8		422.4		400.4
Fertility	229.1		258.1		250.4
Total CooperSurgical net sales	587.9		680.5		650.8
Total net sales	$	2,430.9	$	2,653.4	$	2,532.8

Information by business segment for each of the years in the three-year period ended October 31, 2020, follows:



(In millions)	CooperVision		CooperSurgical			Corporate			Consolidated
2020
Net sales	$	1,843.0	$	587.9		$	—		$	2,430.9
Operating income (loss)	$	375.7	$	(14.7	)	$	(49.2	)	$	311.8
Interest expense									36.8
Other expense, net									8.5
Income before income taxes									$	266.5
Identifiable assets	$	4,236.3	$	2,293.8		$	207.4		$	6,737.5
Depreciation expense	$	138.2	$	11.7		$	—		$	149.9
Amortization expense	$	32.4	$	104.8		$	—		$	137.2
Capital expenditures	$	260.3	$	50.1		$	—		$	310.4
2019
Net sales	$	1,972.9	$	680.5		$	—		$	2,653.4
Operating income (loss)	$	506.4	$	87.9		$	(47.6	)	$	546.7
Interest expense									68.0
Other (income), net									1.3
Income before income taxes									$	477.4
Identifiable assets	$	3,911.6	$	2,189.8		$	173.1		$	6,274.5
Depreciation expense	$	125.8	$	9.0		$	0.2		$	135.0
Amortization expense	$	40.9	$	104.9		$	—		$	145.8
Capital expenditures	$	259.0	$	33.1		$	—		$	292.1
2018
Net sales	$	1,882.0	$	650.8		$	—		$	2,532.8
Operating income (loss)	$	479.8	$	(19.9	)	$	(56.8	)	$	403.1
Interest expense									82.7
Other expense, net									(11.5		)
Income before income taxes									$	331.9
Identifiable assets	$	3,746.0	$	2,201.7		$	165.1		$	6,112.8
Depreciation expense	$	120.1	$	8.1		$	0.2		$	128.4
Amortization expense	$	43.6	$	103.1		$	—		$	146.7
Capital expenditures	$	178.4	$	15.1		$	0.1		$	193.6

Information by geographical area by country of domicile for each of the years in the three-year period ended October 31, 2020, follows:



(In millions)	United States			Europe			Rest of World, Other Eliminations & Corporate			Consolidated
2020
Net sales to unaffiliated customers	$	1,103.6		$	789.8		$	537.5		$	2,430.9
Sales between geographic areas	391.7			327.1			(718.8		)	—
Net sales	$	1,495.3		$	1,116.9		$	(181.3	)	$	2,430.9
Operating income (loss)	$	(14.5	)	$	21.9		$	304.4		$	311.8
Long-lived assets	$	721.3		$	363.0		$	197.6		$	1,281.9
2019
Sales to unaffiliated customers	$	1,211.8		$	854.8		$	586.8		$	2,653.4
Sales between geographic areas	650.7			300.8			(951.5		)	—
Net sales	$	1,862.5		$	1,155.6		$	(364.7	)	$	2,653.4
Operating income (loss)	$	83.2		$	29.3		$	434.2		$	546.7
Long-lived assets	$	626.5		$	358.8		$	146.8		$	1,132.1
2018
Sales to unaffiliated customers	$	1,162.2		$	846.5		$	524.1		$	2,532.8
Sales between geographic areas	274.3			407.1			(681.4		)	—
Net sales	$	1,436.5		$	1,253.6		$	(157.3	)	$	2,532.8
Operating income	$	(39.3	)	$	(16.8	)	$	459.2		$	403.1
Long-lived assets	$	516.7		$	340.7		$	118.6		$	976.0

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Financial Derivatives and Hedging

12 Months Ended

Oct. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Derivatives and Hedging

As part of the Company’s overall risk management practices the Company enters into financial derivatives, interest rate swaps designated as cash flow hedges, to hedge the floating interest rate on its debt.

The Company records all derivatives on its consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. All of the Company's derivatives have satisfied the criteria necessary to apply hedge accounting.

The gain or loss on derivative instruments designated and qualifying for cash flow hedge accounting is deferred in other comprehensive income. The changes in fair value for all trades that are not designated for hedge accounting are recognized in current period earnings. Deferred gains or losses from designated cash flow hedges are reclassified into earnings in the period that the hedged interest expense affects earnings. The effectiveness of cash flow hedges is assessed at inception and quarterly thereafter. The Company does not offset fair value amounts recognized for derivative instruments in its consolidated balance sheet for presentation purposes.

Credit risk related to derivative transactions reflects the risk that a party to the transaction could fail to meet its obligation under the derivative contracts. Therefore, the Company’s exposure to the counterparty’s credit risk is generally limited to the amounts, if any, by which the counterparty’s obligations to the Company exceed the Company’s obligations to the counterparty. The Company’s policy is to enter into contracts only with financial institutions which meet certain minimum credit ratings to help mitigate counterparty credit risk.

As of October 31, 2020, the Company had the following outstanding derivatives designated as hedging instruments:



(In millions, except for number of instruments)	Number of Instruments	Notional Value
Interest Rate Swap Contracts	5	$	1,400

These contracts have maturities of seven years or less.

The pre-tax impact of loss on derivatives designated for hedge accounting recognized in other comprehensive income (loss) was $17.1 million ($13.0 million, net of tax) as of October 31, 2020. The Company did not have any derivatives designated as hedging instruments for the period ended October 31, 2019.

The following table summarizes the fair values of derivative instruments as of the periods indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded:



	Derivative Liabilities
(In millions)		October 31, 2020
Derivatives designated as cash flow hedges	Balance sheet location
Interest rate swap contracts	Other current liabilities	$	0.6
Interest rate swap contracts	Other non-current liabilities	16.5
		$	17.1

The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying consolidated statements of income:



Periods Ended October 31,
(In millions)		2020		2019		2018
Derivatives designated as cash flow hedges	Location of Loss Recognized on Derivatives
Interest rate swap contracts	Interest expense	$	3.7	$	—	$	—

The Company expects that $6.8 million recorded as a component of accumulated other comprehensive income (loss) will be realized in the statements of earnings over the next twelve months and the amount will vary depending on prevailing interest rates.

The following table details the changes in accumulated other comprehensive income:



(In millions)	Amount
Beginning balance gain / (loss) as of October 31, 2019	$	—
Amount recognized in other comprehensive income on interest rate swap contracts (net of tax of $5.0 million)	(20.8		)
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.9 million)	3.7
Ending balance loss as of October 31, 2020	$	(17.1	)

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Oct. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



(In millions, except for earnings per share)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2020
Net sales	$	646.2	$	524.9	$	578.2	$	681.6
Gross profit	$	426.5	$	323.5	$	360.8	$	424.0
Income before income taxes	$	97.4	$	9.0	$	66.4	$	93.7
Net income attributable to Cooper stockholders	$	90.5	$	11.5	$	55.2	$	81.2
Earnings per share attributable to Cooper stockholders - basic	$	1.84	$	0.23	$	1.13	$	1.65
Earnings per share attributable to Cooper stockholders - diluted	$	1.82	$	0.23	$	1.12	$	1.64
2019
Net sales	$	628.1	$	654.3	$	679.4	$	691.6
Gross profit	$	418.5	$	432.6	$	450.7	$	455.0
Income before income taxes	$	93.8	$	128.1	$	127.0	$	128.5
Net income attributable to Cooper stockholders	$	103.2	$	122.4	$	120.1	$	121.0
Earnings per share attributable to Cooper stockholders - basic	$	2.09	$	2.48	$	2.43	$	2.44
Earnings per share attributable to Cooper stockholders - diluted	$	2.07	$	2.45	$	2.40	$	2.42

Schedule II

12 Months Ended

Oct. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II

THE COOPER COMPANIES, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

Three Years Ended October 31, 2020



(In millions)	Balance Beginning of Year		Additions Charged to Costs and Expenses		(Deductions) Recoveries/ Other ⁽¹⁾			Balance at End of Year
Allowance for doubtful accounts:
Year Ended October 31, 2020	$	16.4	$	3.6	$	(9.8	)	$	10.2
Year Ended October 31, 2019	$	19.0	$	1.6	$	(4.2	)	$	16.4
Year Ended October 31, 2018	$	10.8	$	11.5	$	(3.3	)	$	19.0

⁽¹⁾ Consists of additions representing allowances and recoveries, less deductions representing receivables written off as uncollectible.



(In millions)	Balance Beginning of Year	Additions	Reductions/ Charges ⁽²⁾		Balance at End of Year
Deferred income tax valuation allowance:
Year Ended October 31, 2020	41.5	5.9	2.1		45.3
Year Ended October 31, 2019	39.1	3.9	(1.5	)	41.5
Year Ended October 31, 2018	59.1	2.8	(22.8	)	39.1

⁽²⁾

Fiscal year 2018 reductions includes $16.5 million of valuation allowance from prior years as a result of the sale of investment in research and development credits.

Accounting Policies (Policies)

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Estimates

We believe that the accounting policies and estimates employed are appropriate and resulting balances are reasonable; however, actual results could differ from the original estimates, requiring adjustment to these balances in future periods. The accounting policies that reflect our more significant estimates, judgments and assumptions and which we believe are the most important to aid in fully understanding and evaluating our reported financial results are

Estimates


•	allowance for doubtful accounts and credit losses


•	carrying value of inventory


•	the carrying value of goodwill and other long-lived assets.

Basis of accounting

Revenue recognition

Net Sales

Reserves for Variable Consideration

Company elects one of the methods to estimate variable consideration for a particular type of performance obligation, the Company applies that method consistently.

Trade Discounts and Allowances

Product Returns

Rebates and Chargebacks

Rebates are estimated based on contractual terms, historical experience, customer mix, trend analysis and projected market conditions in the various markets served.

Contract balances

The timing of billing and revenue recognition primarily occurs simultaneously. The Company does not have material contract assets or liabilities.

Leases

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost that approximates actual cost, on a first-in, first-out basis.

Valuation of goodwill

Business combinations

Income taxes

Share-based Compensation

As share-based compensation expense recognized in our Consolidated Statements of Income is based on awards ultimately expected to vest, the amount of expense has been reduced for estimated

forfeitures. Forfeitures are estimated at the time of grant, based on historical experience, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

Accounting Pronouncements Recently Adopted and Accounting Pronouncements Issued Not Yet Adopted

Accounting Pronouncements Recently Adopted

Accounting Pronouncements Issued Not Yet Adopted

Consolidation

The financial statements in this report include the accounts of all of Cooper's consolidated entities. All significant intercompany transactions and balances are eliminated on consolidation.

Foreign Currency Translation

Litigation

Long-lived Assets

Property, Plant and Equipment

Cash and Cash Equivalents

Earnings Per Share

Treasury Stock

We record treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.

Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of inventory

Inventories



October 31, (In millions)	2020		2019
Raw materials	$	151.0	$	131.4
Work-in-process	12.4		13.3
Finished goods	407.0		362.2
	$	570.4	$	506.9

Schedule of property, plant and equipment

Property, Plant and Equipment



October 31, (In millions)	2020		2019
Land and improvements	$	19.9	$	19.9
Buildings and improvements	356.1		330.9
Machinery and equipment	1,764.9		1,582.3
Construction in progress	333.9		260.8
Property, plant and equipment, at cost	$	2,474.8	$	2,193.9
Less: Accumulated depreciation	1,192.9		1,061.8
	$	1,281.9	$	1,132.1

Leases (Tables)

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Schedule of leases on the Consolidated Condensed Balance Sheet

The following table presents information about leases on the Consolidated Balance Sheet:



(In millions)	October 31, 2020
Operating Leases
Operating lease right-of-use assets	$	260.2

Operating lease liabilities, current	33.3
Operating lease liabilities, non-current	236.8
Total operating lease liabilities	$	270.1

Weighted average remaining lease term (in years)	11.3
Weighted average discount rate	3		%

Schedule of lease cost

The following table presents information about lease expense, which is included in selling, general and administrative expenses in the Consolidated Statement of Income and Comprehensive Income:



(In millions)	2020
Operating lease expense	$	41.2
Short-term lease expense	4.4
Variable lease expense	$	1.8

The following table presents supplemental cash flow information about the Company’s leases:



(In millions)	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	40.6
Operating lease right-of-use assets obtained in exchange for lease obligations	17.7

Schedule of minimum rental payments required under operating leases

The minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of October 31, 2020 are:



(In millions)
2021	$	40.7
2022	36.3
2023	32.6
2024	29.3
2025	28.0
Thereafter	158.4
Total lease payments	325.3
Less: interest	55.2
Present value of lease liabilities	$	270.1

Acquisitions (Tables)

12 Months Ended

Oct. 31, 2020

Business Combination And Asset Acquisition [Abstract]

Schedule of total purchase consideration for business and asset acquisitions

The following is a summary of the allocation of the total purchase consideration for business and asset acquisitions that the Company completed during fiscal 2020, 2019, and 2018:



(In millions)	2020			2019		2018
Customer relationships	$	11.4		$	7.5	$	23.5
Trademarks	5.1			10.2		100.0
Technology	—			12.3		—
Composite intangible asset	—			—		1,061.9
Other	3.9			0.1		4.2
Total identifiable intangible assets	$	20.4		$	30.1	$	1,189.6
Goodwill	15.3			29.8		70.6
Net tangible (liabilities) assets	(0.3		)	7.3		59.6
Total purchase price	$	35.4		$	67.2	$	1,319.8

Schedule of fair values of net assets acquired and liabilities assumed using the cost accumulation and allocation model for asset acquisition

The following table summarizes the relative fair values of net assets acquired and liabilities assumed using the cost accumulation and allocation model:



(In millions)	Relative Fair Value
Composite intangible asset ⁽¹⁾	$	1,061.9
Assembled workforce intangible asset⁽²⁾	1.2
Property, plant and equipment	2.0
Inventory ⁽³⁾	47.3
Other assets	9.4
Total assets acquired	$	1,121.8
Less: liabilities assumed	16.4
Total Purchase Price	$	1,105.4

The Company proportionally allocated the acquisition costs to the net assets acquired. The acquisition-related costs included advisory, legal, valuation and other professional fees.

⁽²⁾An assembled workforce was recognized as a separate acquired intangible asset, given the purchase of assets and will be amortized over 5 years.

⁽³⁾Inventory relative fair value includes step up of $45.4 million.

Intangible Assets (Tables)

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Goodwill



(In millions)	CooperVision		CooperSurgical			Total
Balance at October 31, 2018	$	1,742.9	$	649.2		$	2,392.1
Net additions	14.1		22.0			36.1
Foreign currency translation adjustment	8.4		(7.7		)	0.7
Balance at October 31, 2019	$	1,765.4	$	663.5		$	2,428.9
Net additions	13.5		1.8			15.3
Foreign currency translation adjustment	0.4		2.7			3.1
Balance at October 31, 2020	$	1,779.3	$	668.0		$	2,447.3

Schedule of finite-lived intangible assets

Other Intangible Assets



	October 31, 2020				October 31, 2019
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted Average Amortization Period (in years)
Intangible assets with definite lives:
Trademarks	$	153.4	$	37.7	$	148.5	$	27.3	14
Composite intangible asset	1,061.9		212.4		1,061.9		141.6		15
Technology	401.2		251.9		399.9		221.2		11
Customer relationships	367.0		216.2		357.6		194.0		13
License and distribution rights and other	31.8		18.2		27.9		15.3		10
	2,015.3		$	736.4	1,995.8		$	599.4	14
Less: accumulated amortization and translation	736.4				599.4
Intangible assets with definite lives, net	$	1,278.9			$	1,396.4
Intangible assets with indefinite lives, net ⁽¹⁾	10.1				8.9
Total other intangible assets, net	$	1,289.0			$	1,405.3

⁽¹⁾Intangible assets with indefinite lives include technology and trademarks.

Schedule of indefinite-lived intangible assets

Other Intangible Assets



	October 31, 2020				October 31, 2019
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted Average Amortization Period (in years)
Intangible assets with definite lives:
Trademarks	$	153.4	$	37.7	$	148.5	$	27.3	14
Composite intangible asset	1,061.9		212.4		1,061.9		141.6		15
Technology	401.2		251.9		399.9		221.2		11
Customer relationships	367.0		216.2		357.6		194.0		13
License and distribution rights and other	31.8		18.2		27.9		15.3		10
	2,015.3		$	736.4	1,995.8		$	599.4	14
Less: accumulated amortization and translation	736.4				599.4
Intangible assets with definite lives, net	$	1,278.9			$	1,396.4
Intangible assets with indefinite lives, net ⁽¹⁾	10.1				8.9
Total other intangible assets, net	$	1,289.0			$	1,405.3

⁽¹⁾Intangible assets with indefinite lives include technology and trademarks.

Schedule of remaining amortization expenses for intangible assets with definite lives

As of October 31, 2020, the estimation of amortization expenses for intangible assets with definite lives is as follows:



Fiscal years:	(In millions)
2021	$	136.4
2022	134.5
2023	132.3
2024	128.1
Thereafter	747.6
Total remaining amortization for intangible assets with definite lives	$	1,278.9

Debt (Tables)

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Schedule of debt



October 31, (In millions)	2020			2019
Overdraft and other credit facilities	$	59.4		$	63.7
Term loans	350.0			500.0
Less: unamortized debt issuance cost	(0.1		)	—
Short-term debt	$	409.3		$	563.7

Revolving credit	$	534.0		$	264.0
Term loans	850.0			1,000.0
Other	0.2			0.2
Less: unamortized debt issuance cost	(0.3		)	(1.6		)
Long-term debt	$	1,383.9		$	1,262.6
Total debt	$	1,793.2		$	1,826.3

The following is a summary of the maximum commitments and the net amounts available to the Company under the credit facilities discussed above as of October 31, 2020:



(In millions)	Facility Limit		Outstanding Borrowings		Outstanding Letters of Credit		Total Amount Available		Maturity Date
2020 Revolving Credit Facility	$	1,290.0	$	534.0	$	1.4	$	754.6	April 1, 2025
2020 Term Loan Facility	850.0		850.0		n/a		—		April 1, 2025
2020 Term Loan	350.0		350.0		n/a		—		October 15, 2021
Total	$	2,490.0	$	1,734.0	$	1.4	$	754.6

Schedule of maturities of long-term debt

Fiscal year maturities of long-term debt as of October 31, 2020, are as follows:



Year (In millions)
2021	$	—
2022	$	—
2023	$	—
2024	$	—
2025	$	1,384.2
Thereafter	$	—

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income before income taxes and the income tax provision related to income

The components of income before income taxes and the income tax provision related to income from all operations in our Consolidated Statements of Income consist of:



Years Ended October 31, (In millions)	2020			2019			2018
Income before income taxes:
United States	$	(88.0	)	$	(32.8	)	$	(122.8	)
Foreign	354.5			510.2			454.7
	$	266.5		$	477.4		$	331.9
Income tax provision	$	28.1		$	10.7		$	192.0

Schedule of income tax provision (benefit)

The income tax provision (benefit) related to income in our Consolidated Statements of Income consists of:



Years Ended October 31, (In millions)	2020			2019			2018
Current:
Federal	$	1.4		$	9.2		$	165.6
State	1.1			1.6			0.5
Foreign	26.5			15.8			23.0
	29.0			26.6			189.1
Deferred:
Federal	3.2			(8.1		)	16.1
State	0.8			(0.9		)	1.0
Foreign	(4.9		)	(6.9		)	(14.2		)
	(0.9		)	(15.9		)	2.9
Income tax provision	$	28.1		$	10.7		$	192.0

Schedule of reconciliation of provision for income taxes attributable to income from operations and amount computed by applying statutory federal income tax rate to income before income taxes



Years Ended October 31, (In millions)	2020			2019			2018
Computed expected provision for taxes	$	56.0		$	100.3		$	77.5
(Decrease) increase in taxes resulting from:
Income earned outside the United States subject to different tax rates	(54.7		)	(85.6		)	(97.5		)
State taxes, net of federal income tax benefit	1.9			0.4			(4.9		)
Foreign source income subject to United States tax	32.0			16.1			—
U.S. tax reform	—			(5.8		)	214.6
Incentive stock option compensation and non-deductible employee compensation	(4.4		)	(7.8		)	(11.1		)
Deferred tax asset step-up	(9.0		)	(6.7		)	(1.9		)
US provision-to-return	7.0			4.4			(0.7		)
Tax accrual adjustment	(0.1		)	(1.5		)	13.9
Other, net	(0.6		)	(3.1		)	2.1
Actual provision for income taxes	$	28.1		$	10.7		$	192.0

Schedule of tax effects of temporary differences that give rise to deferred tax assets and liabilities

The tax effects of temporary differences that give rise to the deferred tax assets and liabilities are:



Years Ended October 31, (In millions)	2020			2019
Deferred tax assets:
Accounts receivable, principally due to allowances for doubtful accounts	$	2.6		$	3.6
Inventories	5.8			3.5
Litigation settlements	0.2			0.1
Accrued liabilities, reserves and compensation accruals	76.9			55.1
Foreign deferred tax assets	90.9			52.5
Restricted stock and stock option expenses	21.4			26.1
Net operating loss carryforwards	9.6			8.3
Intangible assets	19.6			11.1
Research and experimental expenses - Section 59(e)	9.2			2.5
Tax credit carryforwards	1.5			1.3
Total gross deferred tax assets	237.7			164.1
Less: valuation allowance	(45.3		)	(41.5		)
Deferred tax assets	192.4			122.6
Deferred tax liabilities:
Tax deductible goodwill	(29.7		)	(25.0		)
Plant and equipment	(39.2		)	(14.3		)
Deferred tax on foreign earnings	(7.5		)	(5.9		)
Transaction costs	(0.7		)	(0.7		)
Foreign deferred tax liabilities	(61.0		)	(27.6		)
Total gross deferred tax liabilities	(138.1		)	(73.5		)
Net deferred tax assets	$	54.3		$	49.1

Schedule of aggregated changes in the balance of unrecognized tax benefits

The changes in the balance of unrecognized tax benefits (UTB) were as follows:



(In millions)
Balance at October 31, 2018	$	68.9
Decrease from prior year's UTB's	(11.8		)
Increase from current year's UTB's	8.3
UTB (decrease) from tax authorities' settlements	(14.1		)
UTB (decrease) from expiration of statute of limitations	(1.6		)
Balance at October 31, 2019	$	49.7
Increase from prior year's UTB's	3.4
Increase from current year's UTB's	7.6
UTB (decrease) from expiration of statute of limitations	(2.2		)
Balance at October 31, 2020	$	58.5

Earnings Per Share (Tables)

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Schedule of earnings per share



Years Ended October 31,
(In millions, except for earnings per share)	2020		2019		2018
Net income attributable to Cooper stockholders	$	238.4	$	466.7	$	139.9
Basic:
Weighted average common shares	49.1		49.4		49.1
Basic earnings per share attributable to Cooper stockholders	$	4.85	$	9.44	$	2.85
Diluted:
Weighted average common shares	49.1		49.4		49.1
Effect of dilutive stock options	0.5		0.6		0.6
Diluted weighted average common shares	49.6		50.0		49.7
Diluted earnings per share attributable to Cooper stockholders	$	4.81	$	9.33	$	2.81

Schedule of stock options to purchase common stock and restricted stock units not included in diluted earnings per share calculation due to antidilutive effect



Years Ended October 31,
(In thousands, except exercise prices)	2020		2019		2018
Stock option shares excluded	207		198		257
Range of exercise prices	$	304.54	$	254.77	$226.30 - $230.09
Restricted stock units excluded	1		8		21

Stockholders' Equity (Tables)

12 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of changes in accumulated other comprehensive (loss) income

Analysis of Changes in Accumulated Other Comprehensive Income (Loss):



(In millions)	Foreign Currency Translation Adjustment			Derivatives			Minimum Pension Liability			Total
Balance at October 31, 2017	$	(353.7	)	$	—		$	(21.6	)	$	(375.3	)
Gross change in value	(58.5		)	—			11.0			(47.5		)
Tax effect	—			—			(3.1		)	(3.1		)
ASU 2018-02 adoption ⁽¹⁾	—			—			(4.8		)	(4.8		)
Balance at October 31, 2018	$	(412.2	)	$	—		$	(18.5	)	$	(430.7	)
Gross change in value	$	9.0		$	—		$	(33.4	)	$	(24.4	)
Tax effect	—			—			8.0			8.0
Balance at October 31, 2019	$	(403.2	)	$	—		$	(43.9	)	$	(447.1	)
Gross change in value	$	0.9		$	(17.1	)	$	(16.8	)	$	(33.0	)
Tax effect	—			4.1			4.0			8.1
Balance at October 31, 2020	$	(402.3	)	$	(13.0	)	$	(56.7	)	$	(472.0	)

⁽¹⁾

Represents reclassification to retained earnings from adoption of ASU 2018-02.

The following table details the changes in accumulated other comprehensive income:



(In millions)	Amount
Beginning balance gain / (loss) as of October 31, 2019	$	—
Amount recognized in other comprehensive income on interest rate swap contracts (net of tax of $5.0 million)	(20.8		)
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.9 million)	3.7
Ending balance loss as of October 31, 2020	$	(17.1	)

Schedule of share repurchases

For the years ended October 31, 2020 and 2019, the Company share repurchases were as follow:



Periods Ended October 31,	2020		2019
Number of shares	160,850		536,972
Average repurchase price per share	$	296.9	$	290.7
Total costs of shares repurchased (in millions)	$	47.8	$	156.1

Stock Plans (Tables)

12 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of compensation expense and related income tax benefit for share-based awards

Compensation expense and the related tax benefit recognized in our consolidated financial statements for share-based awards, including the Employee Stock Purchase Plan, were as follows:



October 31,
(In millions)	2020		2019		2018
Selling, general and administrative expense	$	32.2	$	28.7	$	37.6
Cost of sales	4.0		4.7		3.6
Research and development expense	2.4		2.9		2.0
Total compensation expense	$	38.6	$	36.3	$	43.2
Related income tax benefit	$	4.8	$	5.1	$	8.8

Schedule of assumptions used in estimating fair value of stock options award granted



Years Ended October 31,	2020		2019		2018
Expected life	4.4 years		4.4 years		5.4 years
Expected volatility	24.5	%	22.0	%	23.0	%
Risk-free interest rate	1.6	%	2.9	%	2	%
Dividend yield	0.02	%	0.02	%	0.03	%

Schedule of stock option plans

The activity and status of our stock option plans are summarized below:



	Number of Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at October 31, 2019	1,024,752		$	186.24
Granted	212,046		$	304.54
Exercised	(105,045	)	$	128.43
Forfeited or expired	(28,246	)	$	223.28
Outstanding at October 31, 2020	1,103,507		$	213.53	6.44
Vested and expected to vest at October 31, 2020	1,060,738		$	211.04	6.36	$	114,567,509
Vested and exercisable at October 31, 2020	430,926		$	167.09	5.01	$	65,485,571

Schedule of non-vested RSUs

The status of our non-vested RSUs is summarized below:



	Number of Shares		Weighted- Average Grant Date Fair Value Per Share
Non-vested RSUs at October 31, 2019	429,571		$	210.72
Granted	130,610		$	301.59
Vested and issued	(151,613	)	$	192.10
Forfeited or expired	(39,948	)	$	242.12
Non-vested RSUs at October 31, 2020	368,620		$	247.09

Employee Benefits (Tables)

12 Months Ended

Oct. 31, 2020

Retirement Benefits [Abstract]

Schedule of changes in benefit obligation, changes in plan assets and funded status

Retirement Income Plan



Years Ended October 31, (In millions)	2020			2019			2018
Change in benefit obligation
Benefit obligation, beginning of year	$	189.7		$	147.1		$	151.7
Service cost	13.9			10.1			10.7
Interest cost	5.2			6.1			5.0
Benefits paid	(10.0		)	(10.2		)	(3.7		)
Actuarial loss (gain)	20.0			36.6			(16.6		)
Benefit obligation, end of year	$	218.8		$	189.7		$	147.1
Change in plan assets
Fair value of plan assets, beginning of year	$	136.0		$	121.0		$	112.8
Actual return on plan assets	10.1			12.1			1.9
Employer contributions	23.4			13.1			10.0
Benefits paid	(10.0		)	(10.2		)	(3.7		)
Fair value of plan assets, end of year	$	159.5		$	136.0		$	121.0
Funded status at end of year	$	(59.3	)	$	(53.7	)	$	(26.1	)

Schedule of amounts recognized in statement of financial position



Years Ended October 31, (In millions)	2020			2019			2018
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities	(59.3		)	(53.7		)	(26.1		)
Net amount recognized at year end	$	(59.3	)	$	(53.7	)	$	(26.1	)

Schedule of amounts recognized in accumulated other comprehensive Income



Years Ended October 31, (In millions)	2020		2019		2018
Amounts recognized in accumulated other comprehensive income consist of:
Net loss	74.2		57.3		24.0
Accumulated other comprehensive income	$	74.2	$	57.3	$	24.0

Schedule of pension plans with projected benefit obligation in excess of plan assets



Years Ended October 31, (In millions)	2020		2019		2018
Information for pension plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	218.8	$	189.7	$	147.1
Fair value of plan assets	$	159.5	$	136.0	$	121.0

Schedule of pension plans with accumulated benefit obligations in excess of fair value of plan assets



Years Ended October 31, (In millions)	2020		2019		2018
Information for pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation	$	195.8	$	170.8	$	130.5
Fair value of plan assets	$	159.5	$	136.0	$	121.0

Schedule of reconciliation of prepaid (accrued) pension cost



Years Ended October 31, (In millions)	2020			2019			2018
Reconciliation of prepaid (accrued) pension cost:
Accrued pension cost at prior fiscal year end	$	(3.7	)	$	2.2		$	4.0
Net periodic benefit cost	12.3			7.2			8.2
Contributions made during the year	(23.4		)	(13.1		)	(10.0		)
Accrued pension cost at fiscal year end	$	(14.8	)	$	(3.7	)	$	2.2

Schedule of components of net periodic pension costs and other amounts recognized in other comprehensive income



Years Ended October 31, (In millions)	2020			2019			2018
Components of net periodic benefit cost and other amounts recognized in (other comprehensive income) the fiscal year:
Net periodic benefit cost:
Service cost	$	13.9		$	10.1		$	10.7
Interest cost	5.2			6.1			5.0
Expected return on plan assets	(10.8		)	(9.8		)	(9.2		)
Recognized actuarial loss	4.0			0.8			1.7
Net periodic pension cost	$	12.3		$	7.2		$	8.2

Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income



Years Ended October 31, (In millions)	2020			2019			2018
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	20.8			34.2			(9.3		)
Amortizations of net (gain)	(4.0		)	(0.8		)	(1.7		)
Total recognized in other comprehensive income	$	16.8		$	33.4		$	(11.0	)
Total recognized in net periodic benefit cost and other comprehensive income	$	29.0		$	40.6		$	(2.8	)

Schedule of weighted-average assumptions used in computing net periodic pension cost and projected benefit obligation



Years Ended October 31,	2020		2019		2018
Weighted-average assumptions used in computing the net periodic pension cost and projected benefit obligation at year end:
Discount rate for determining net periodic pension cost:
Projected Benefit Obligation	3.13	%	4.42	%	3.75	%
Service Cost	3.18	%	4.49	%	3.85	%
Interest Cost	2.78	%	4.22	%	3.39	%
Discount rate for determining benefit obligations at year end	2.78	%	3.13	%	4.42	%
Rate of compensation increase for determining expense	3.60	%	4.00	%	4.00	%
Rate of compensation increase for determining benefit obligations at year end	3.60	%	3.60	%	4.00	%
Expected rate of return on plan assets for determining net periodic pension cost	8.00	%	8.00	%	8.00	%
Expected rate of return on plan assets at year end	8.00	%	8.00	%	8.00	%
Measurement date for determining assets and benefit obligations at year end	10/31/2020		10/31/2019		10/31/2018

Schedule of weighted-average asset allocations and fair value measurement of plan assets

Plan Assets

Weighted-average asset allocations at year end, by asset category are as follows:



Years Ended October 31,	2020		2019		2018
Asset category
Cash and cash equivalents	11.8	%	3.2	%	2.1	%
Corporate common stock	—	%	—	%	14.5	%
Equity mutual funds	57.7	%	63.7	%	47.4	%
Hedging Strategy Funds	4.3	%	4.9	%	—	%
Real estate funds	—	%	—	%	2.7	%
Bond mutual funds	26.2	%	28.2	%	33.3	%
Total	100.0	%	100.0	%	100.0	%

As of the measurement date of October 31, 2020, the fair value measurement of plan assets is as follows:



(In millions)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset category
Cash and cash equivalents	$	18.8	$	—	$	18.8	$	—
Equity mutual funds	91.9		91.9		—		—
Hedging Strategy Funds	6.9		6.9		—		—
Bond mutual funds	41.9		15.4		26.5		—
Total	$	159.5	$	114.2	$	45.3	$	—

Schedule of estimated future benefit payments

Estimated Future Benefit Payments



Years (In millions)
2021	$	10.0
2022	$	11.0
2023	$	11.9
2024	$	12.9
2025	$	13.7
2026-2030	$	76.3

Business Segment Information (Tables)

12 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Schedule of business segment net sales

The following table presents a summary of our business segment net sales:



(In millions)	2020		2019		2018
CooperVision net sales by category:
Toric lens	$	598.2	$	620.0	$	591.4
Multifocal lens	197.0		202.9		196.6
Single-use sphere lens	529.0		568.2		520.1
Non single-use sphere, other	518.8		581.8		573.9
Total CooperVision net sales	1,843.0		1,972.9		1,882.0
CooperSurgical net sales by category:
Office and surgical products	358.8		422.4		400.4
Fertility	229.1		258.1		250.4
Total CooperSurgical net sales	587.9		680.5		650.8
Total net sales	$	2,430.9	$	2,653.4	$	2,532.8

Schedule of business segment information

Information by business segment for each of the years in the three-year period ended October 31, 2020, follows:



(In millions)	CooperVision		CooperSurgical			Corporate			Consolidated
2020
Net sales	$	1,843.0	$	587.9		$	—		$	2,430.9
Operating income (loss)	$	375.7	$	(14.7	)	$	(49.2	)	$	311.8
Interest expense									36.8
Other expense, net									8.5
Income before income taxes									$	266.5
Identifiable assets	$	4,236.3	$	2,293.8		$	207.4		$	6,737.5
Depreciation expense	$	138.2	$	11.7		$	—		$	149.9
Amortization expense	$	32.4	$	104.8		$	—		$	137.2
Capital expenditures	$	260.3	$	50.1		$	—		$	310.4
2019
Net sales	$	1,972.9	$	680.5		$	—		$	2,653.4
Operating income (loss)	$	506.4	$	87.9		$	(47.6	)	$	546.7
Interest expense									68.0
Other (income), net									1.3
Income before income taxes									$	477.4
Identifiable assets	$	3,911.6	$	2,189.8		$	173.1		$	6,274.5
Depreciation expense	$	125.8	$	9.0		$	0.2		$	135.0
Amortization expense	$	40.9	$	104.9		$	—		$	145.8
Capital expenditures	$	259.0	$	33.1		$	—		$	292.1
2018
Net sales	$	1,882.0	$	650.8		$	—		$	2,532.8
Operating income (loss)	$	479.8	$	(19.9	)	$	(56.8	)	$	403.1
Interest expense									82.7
Other expense, net									(11.5		)
Income before income taxes									$	331.9
Identifiable assets	$	3,746.0	$	2,201.7		$	165.1		$	6,112.8
Depreciation expense	$	120.1	$	8.1		$	0.2		$	128.4
Amortization expense	$	43.6	$	103.1		$	—		$	146.7
Capital expenditures	$	178.4	$	15.1		$	0.1		$	193.6

Schedule of information by geographical area by country of domicile

Information by geographical area by country of domicile for each of the years in the three-year period ended October 31, 2020, follows:



(In millions)	United States			Europe			Rest of World, Other Eliminations & Corporate			Consolidated
2020
Net sales to unaffiliated customers	$	1,103.6		$	789.8		$	537.5		$	2,430.9
Sales between geographic areas	391.7			327.1			(718.8		)	—
Net sales	$	1,495.3		$	1,116.9		$	(181.3	)	$	2,430.9
Operating income (loss)	$	(14.5	)	$	21.9		$	304.4		$	311.8
Long-lived assets	$	721.3		$	363.0		$	197.6		$	1,281.9
2019
Sales to unaffiliated customers	$	1,211.8		$	854.8		$	586.8		$	2,653.4
Sales between geographic areas	650.7			300.8			(951.5		)	—
Net sales	$	1,862.5		$	1,155.6		$	(364.7	)	$	2,653.4
Operating income (loss)	$	83.2		$	29.3		$	434.2		$	546.7
Long-lived assets	$	626.5		$	358.8		$	146.8		$	1,132.1
2018
Sales to unaffiliated customers	$	1,162.2		$	846.5		$	524.1		$	2,532.8
Sales between geographic areas	274.3			407.1			(681.4		)	—
Net sales	$	1,436.5		$	1,253.6		$	(157.3	)	$	2,532.8
Operating income	$	(39.3	)	$	(16.8	)	$	459.2		$	403.1
Long-lived assets	$	516.7		$	340.7		$	118.6		$	976.0

Financial Derivatives and Hedging (Tables)

12 Months Ended

Oct. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of outstanding derivatives designated as hedging instruments

As of October 31, 2020, the Company had the following outstanding derivatives designated as hedging instruments:



(In millions, except for number of instruments)	Number of Instruments	Notional Value
Interest Rate Swap Contracts	5	$	1,400

Schedule of fair values of derivative instruments in condensed consolidated balance sheets



	Derivative Liabilities
(In millions)		October 31, 2020
Derivatives designated as cash flow hedges	Balance sheet location
Interest rate swap contracts	Other current liabilities	$	0.6
Interest rate swap contracts	Other non-current liabilities	16.5
		$	17.1

Schedule of derivative instruments recognized in condensed consolidated statements of income

The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying consolidated statements of income:



Periods Ended October 31,
(In millions)		2020		2019		2018
Derivatives designated as cash flow hedges	Location of Loss Recognized on Derivatives
Interest rate swap contracts	Interest expense	$	3.7	$	—	$	—

Schedule of changes in accumulated other comprehensive income

Analysis of Changes in Accumulated Other Comprehensive Income (Loss):



(In millions)	Foreign Currency Translation Adjustment			Derivatives			Minimum Pension Liability			Total
Balance at October 31, 2017	$	(353.7	)	$	—		$	(21.6	)	$	(375.3	)
Gross change in value	(58.5		)	—			11.0			(47.5		)
Tax effect	—			—			(3.1		)	(3.1		)
ASU 2018-02 adoption ⁽¹⁾	—			—			(4.8		)	(4.8		)
Balance at October 31, 2018	$	(412.2	)	$	—		$	(18.5	)	$	(430.7	)
Gross change in value	$	9.0		$	—		$	(33.4	)	$	(24.4	)
Tax effect	—			—			8.0			8.0
Balance at October 31, 2019	$	(403.2	)	$	—		$	(43.9	)	$	(447.1	)
Gross change in value	$	0.9		$	(17.1	)	$	(16.8	)	$	(33.0	)
Tax effect	—			4.1			4.0			8.1
Balance at October 31, 2020	$	(402.3	)	$	(13.0	)	$	(56.7	)	$	(472.0	)

⁽¹⁾

Represents reclassification to retained earnings from adoption of ASU 2018-02.

The following table details the changes in accumulated other comprehensive income:



(In millions)	Amount
Beginning balance gain / (loss) as of October 31, 2019	$	—
Amount recognized in other comprehensive income on interest rate swap contracts (net of tax of $5.0 million)	(20.8		)
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.9 million)	3.7
Ending balance loss as of October 31, 2020	$	(17.1	)

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Oct. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial data (unaudited)



(In millions, except for earnings per share)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2020
Net sales	$	646.2	$	524.9	$	578.2	$	681.6
Gross profit	$	426.5	$	323.5	$	360.8	$	424.0
Income before income taxes	$	97.4	$	9.0	$	66.4	$	93.7
Net income attributable to Cooper stockholders	$	90.5	$	11.5	$	55.2	$	81.2
Earnings per share attributable to Cooper stockholders - basic	$	1.84	$	0.23	$	1.13	$	1.65
Earnings per share attributable to Cooper stockholders - diluted	$	1.82	$	0.23	$	1.12	$	1.64
2019
Net sales	$	628.1	$	654.3	$	679.4	$	691.6
Gross profit	$	418.5	$	432.6	$	450.7	$	455.0
Income before income taxes	$	93.8	$	128.1	$	127.0	$	128.5
Net income attributable to Cooper stockholders	$	103.2	$	122.4	$	120.1	$	121.0
Earnings per share attributable to Cooper stockholders - basic	$	2.09	$	2.48	$	2.43	$	2.44
Earnings per share attributable to Cooper stockholders - diluted	$	2.07	$	2.45	$	2.40	$	2.42

Accounting Policies - Narrative (Details)	3 Months Ended		12 Months Ended
Accounting Policies - Narrative (Details)	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($)	Oct. 31, 2020 USD ($) business_unit shares	Oct. 31, 2019 USD ($) shares	Oct. 31, 2018 USD ($)
Property, Plant and Equipment [Line Items]
Number of business units \| business_unit			2
Refund liability for product returns			$ 10,000,000.0	$ 11,600,000
Goodwill impairment	$ 0	$ 0	0	0
Operating lease right-of-use assets			260,200,000
Lease liability			270,100,000
Net foreign exchange loss			1,200,000	2,200,000	$ 3,400,000
Interest capitalized included in construction in progress			$ 5,300,000	$ 6,100,000
Treasury stock repurchase (in shares) \| shares			4,300,000	4,100,000
Number of shares \| shares			160,850	536,972
Minimum
Property, Plant and Equipment [Line Items]
Capitalized contract cost, amortization period (or less)			1 year
Minimum \| Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life			30 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life			3 years
Maximum \| Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life			40 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life			15 years

Accounting Policies - Inventory (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 151.0	$ 131.4
Work-in-process	12.4	13.3
Finished goods	407.0	362.2
Inventories, net	$ 570.4	$ 506.9

Accounting Policies - Property Plant and Equipment (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 2,474.8	$ 2,193.9
Less: Accumulated depreciation	1,192.9	1,061.8
Property, plant and equipment, net	1,281.9	1,132.1	$ 976.0
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	19.9	19.9
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	356.1	330.9
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	1,764.9	1,582.3
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 333.9	$ 260.8

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2020
Leases [Abstract]
Operating leases, rent expense	$ 45.3	$ 38.8
Commitments under finance lease arrangements			$ 2.4

Leases - Leases on the Consolidated Condensed Balance Sheet (Details) $ in Millions	Oct. 31, 2020 USD ($)
Operating Leases
Operating lease right-of-use assets	$ 260.2
Operating lease liabilities, current	33.3
Operating lease liabilities, non-current	236.8
Total operating lease liabilities	$ 270.1
Weighted average remaining lease term (in years)	11 years 3 months 18 days
Weighted average discount rate	3.00%

- Lease Expense on Consolidated Statements of Income (Details) $ in Millions	12 Months Ended
	Oct. 31, 2020 USD ($)
Leases [Abstract]
Operating lease expense	$ 41.2
Short-term lease expense	4.4
Variable lease expense	$ 1.8

- Supplemental Cash Flow Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2020 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 40.6
Operating lease right-of-use assets obtained in exchange for lease obligations	$ 17.7

Leases - Minimum Rental Payments Required Under Operating Leases (Details) $ in Millions	Oct. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 40.7
2022	36.3
2023	32.6
2024	29.3
2025	28.0
Thereafter	158.4
Total lease payments	325.3
Less: interest	55.2
Present value of lease liabilities	$ 270.1

Acquisitions - Total Purchase Consideration for Business and Asset Acquisitions (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Goodwill	$ 2,447.3	$ 2,428.9	$ 2,392.1
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	20.4	30.1	1,189.6
Goodwill	15.3	29.8	70.6
Net tangible (liabilities) assets	(0.3)	7.3	59.6
Total purchase price	35.4	67.2	1,319.8
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions \| Customer relationships
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	11.4	7.5	23.5
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions \| Trademarks
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	5.1	10.2	100.0
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions \| Technology
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	0.0	12.3	0.0
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions \| Composite intangible asset
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	0.0	0.0	1,061.9
Series Of Individually Immaterial Business Acquisitions And Asset Acquisitions \| Other
Schedule Of Business Acquisitions And Asset Acquisition, By Acquisition [Line Items]
Total identifiable intangible assets	$ 3.9	$ 0.1	$ 4.2

Acquisitions - Paragard (Details) - USD ($) $ in Millions		12 Months Ended
Acquisitions - Paragard (Details) - USD ($) $ in Millions	Nov. 01, 2017	Oct. 31, 2020
Schedule Of Asset Acquisition [Line Items]
Useful life		14 years
CooperSurgical \| Paragard Intrauterine Device (IUD)
Schedule Of Asset Acquisition [Line Items]
Total purchase consideration	$ 1,100.0
Property, plant and equipment	2.0
Inventory	47.3
Other assets	9.4
Total assets acquired	1,121.8
Less: liabilities assumed	16.4
Total Purchase Price	1,105.4
Inventory step up	45.4
CooperSurgical \| Assembled workforce intangible asset \| Paragard Intrauterine Device (IUD)
Schedule Of Asset Acquisition [Line Items]
Intangible assets	$ 1.2
Useful life	5 years
Composite intangible asset \| CooperSurgical \| Paragard Intrauterine Device (IUD)
Schedule Of Asset Acquisition [Line Items]
Intangible assets	$ 1,061.9
Useful life	15 years

Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Goodwill [Roll Forward]
Balance, beginning	$ 2,428.9	$ 2,392.1
Net additions	15.3	36.1
Foreign currency translation adjustment	3.1	0.7
Balance, ending	2,447.3	2,428.9
CooperVision
Goodwill [Roll Forward]
Balance, beginning	1,765.4	1,742.9
Net additions	13.5	14.1
Foreign currency translation adjustment	0.4	8.4
Balance, ending	1,779.3	1,765.4
CooperSurgical
Goodwill [Roll Forward]
Balance, beginning	663.5	649.2
Net additions	1.8	22.0
Foreign currency translation adjustment	2.7	(7.7)
Balance, ending	$ 668.0	$ 663.5

Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended	12 Months Ended
Intangible Assets - Narrative (Details) - USD ($)	Jul. 31, 2020	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Goodwill [Line Items]
Goodwill impairment	$ 0	$ 0			$ 0	$ 0
Gain on sale of an intangible					0	19,000,000.0	$ 0
Asset impairment charges				$ 0
CooperSurgical
Goodwill [Line Items]
Goodwill deductible for tax purposes					134,200,000	146,800,000
Proceeds from sale of exclusive distribution right			$ 21,000,000.0
Gain on sale of an intangible			$ 19,000,000.0
CooperVision
Goodwill [Line Items]
Goodwill deductible for tax purposes					$ 26,900,000	$ 29,200,000

Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,015.3	$ 1,995.8
Accumulated Amortization	736.4	599.4
Intangible assets with definite lives, net	$ 1,278.9	1,396.4
Weighted Average Amortization Period (in years)	14 years
Intangible assets with indefinite lives, net	$ 10.1	8.9
Total other intangible assets, net	1,289.0	1,405.3
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	153.4	148.5
Accumulated Amortization	$ 37.7	27.3
Weighted Average Amortization Period (in years)	14 years
Composite intangible asset
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,061.9	1,061.9
Accumulated Amortization	$ 212.4	141.6
Weighted Average Amortization Period (in years)	15 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 401.2	399.9
Accumulated Amortization	$ 251.9	221.2
Weighted Average Amortization Period (in years)	11 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 367.0	357.6
Accumulated Amortization	$ 216.2	194.0
Weighted Average Amortization Period (in years)	13 years
License and distribution rights and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 31.8	27.9
Accumulated Amortization	$ 18.2	$ 15.3
Weighted Average Amortization Period (in years)	10 years

Intangible Assets - Estimated Amortization Expenses for Intangible Assets with Definite Lives (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 136.4
2022	134.5
2023	132.3
2024	128.1
Thereafter	747.6
Intangible assets with definite lives, net	$ 1,278.9	$ 1,396.4

Debt - Total Debt (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Short-term Debt
Less: unamortized debt issuance cost	$ (0.1)	$ 0.0
Short-term debt	409.3	563.7
Long-term Debt
Less: unamortized debt issuance cost	(0.3)	(1.6)
Long-term debt	1,383.9	1,262.6
Total debt	1,793.2	1,826.3
Overdraft and other credit facilities
Short-term Debt
Outstanding Borrowings	59.4	63.7
Term loans
Short-term Debt
Outstanding Borrowings	350.0	500.0
Term loans
Long-term Debt
Long-term debt, gross	850.0	1,000.0
Other
Long-term Debt
Long-term debt, gross	0.2	0.2
Revolving Credit Facility \| Line of Credit
Long-term Debt
Long-term debt, gross	$ 534.0	$ 264.0

Debt - Maturities of Long-term Debt (Details) $ in Millions	Oct. 31, 2020 USD ($)
Maturities of Long-term Debt [Abstract]
2021	$ 0.0
2022	0.0
2023	0.0
2024	0.0
2025	1,384.2
Thereafter	$ 0.0

Debt - Narrative (Details) - USD ($)					12 Months Ended
Debt - Narrative (Details) - USD ($)	Oct. 16, 2020	Apr. 01, 2020	Sep. 27, 2019	Nov. 01, 2018	Oct. 31, 2020	Oct. 31, 2019
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Letters of credit outstanding					$ 4,500,000	$ 4,800,000
Term loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt outstanding					350,000,000.0	500,000,000.0
Term Loan Agreement 2020 \| Term loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt term	364 days
Original debt amount	$ 350,000,000.0				350,000,000.0
Debt outstanding					$ 350,000,000.0
Interest rate					0.93%
Term Loan Agreement 2020 \| Term loans \| Base Rate
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Term Loan Agreement 2020 \| Term loans \| London Interbank Offered Rate (LIBOR)
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate	0.80%
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Aggregate principal amount		$ 1,290,000,000			$ 1,290,000,000.0
Proceeds from line of credit		$ 445,000,000.0
Debt outstanding					$ 534,000,000.0
Interest rate					1.15%
Letters of credit outstanding					$ 1,400,000
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility \| Minimum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Commitment fee percentage		0.10%
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility \| Maximum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Commitment fee percentage		0.20%
Credit Agreement 2020 \| Line of Credit \| Term Loan Facility 2020
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Aggregate principal amount		$ 850,000,000.0			850,000,000.0
Proceeds from line of credit		850,000,000.0
Debt outstanding					$ 850,000,000.0
Interest rate					1.15%
Expensed debt issuance costs					$ 1,800,000
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility And Term Loan Facility 2020
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Potential additional borrowing capacity		$ 1,605,000,000
Required minimum interest coverage ratio		3.00
Required maximum total leverage ratio		3.75
Interest coverage ratio					21.19
Total leverage ratio					2.15
Interest coverage ratio and total leverage ratio, expected minimum compliance period					12 months
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility And Term Loan Facility 2020 \| Base Rate \| Minimum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate		0.00%
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility And Term Loan Facility 2020 \| Base Rate \| Maximum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility And Term Loan Facility 2020 \| London Interbank Offered Rate (LIBOR) \| Minimum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Credit Agreement 2020 \| Line of Credit \| Revolving Credit Facility And Term Loan Facility 2020 \| London Interbank Offered Rate (LIBOR) \| Maximum
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Term Loan Agreement 2019 \| Term loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt term			364 days
Original debt amount			$ 500,000,000
Term Loan Agreement 2018 \| Term loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Debt term				364 years
Original debt amount				$ 400,000,000
European Credit Facilities \| Line of Credit \| Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Aggregate principal amount					$ 25,800,000	34,600,000
Debt outstanding					$ 700,000
Weighted average interest rate					1.59%
Asian Pacific Credit Facilities - Yen-Denominated \| Line of Credit \| Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Aggregate principal amount					$ 76,600,000	69,300,000
Debt outstanding					$ 57,700,000
Weighted average interest rate					0.43%
Asian Pacific Credit Facilities - Asia Pacific Subsidiaries \| Line of Credit \| Revolving Credit Facility
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Aggregate principal amount					$ 11,200,000	$ 10,800,000
Debt outstanding					$ 400,000
Weighted average interest rate					2.41%

Debt - Maximum Commitments and Net Amounts Available under Credit Facilities (Details) - USD ($)	Oct. 31, 2020	Oct. 16, 2020	Apr. 01, 2020	Oct. 31, 2019
Line of Credit Facility [Line Items]
Total debt	$ 1,793,200,000			$ 1,826,300,000
Outstanding Letters of Credit	4,500,000			4,800,000
Credit Agreement 2020 And Term Loan Agreement 2020
Line of Credit Facility [Line Items]
Total	2,490,000,000.0
Total debt	1,734,000,000.0
Line of Credit \| Credit Agreement 2020 \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Facility Limit	1,290,000,000.0		$ 1,290,000,000
Outstanding Borrowings	534,000,000.0
Outstanding Letters of Credit	1,400,000
Total Amount Available	754,600,000
Line of Credit \| Credit Agreement 2020 \| Term Loan Facility 2020
Line of Credit Facility [Line Items]
Facility Limit	850,000,000.0		$ 850,000,000.0
Outstanding Borrowings	850,000,000.0
Term loan
Line of Credit Facility [Line Items]
Outstanding Borrowings	350,000,000.0			$ 500,000,000.0
Term loan \| Term Loan Agreement 2020
Line of Credit Facility [Line Items]
Facility Limit	350,000,000.0	$ 350,000,000.0
Outstanding Borrowings	$ 350,000,000.0

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Nov. 30, 2020
Operating Loss Carryforwards [Line Items]
Effective tax rate	10.60%	2.30%
Statutory federal income tax rate	21.00%	21.00%	23.00%
Valuation allowance	$ 45.3	$ 41.5
Unrecognized tax benefits	58.5	49.7	$ 68.9
Unrecognized tax benefits that would impact the effective tax rate	46.0	41.7	46.6
Accrued gross interest and penalties related to uncertain tax positions	7.3	$ 3.9	$ 4.4
Significant change in unrecognized tax benefits that is reasonably possible during the next twelve months	7.2
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	20.3
Federal net operating losses expiring	15.8
Federal net operating losses not subject to expiration	4.5
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	16.3
Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Research credit	$ 1.9
Subsequent Event
Operating Loss Carryforwards [Line Items]
Deferred tax asset, intra-entity sale of certain intellectual property rights (up to)				$ 2,400.0

Income Taxes - Income Before Income Taxes and the Income Tax Provision Related to Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Income before income taxes:
United States	$ (88.0)	$ (32.8)	$ (122.8)
Foreign	354.5	510.2	454.7
Income before income taxes	266.5	477.4	331.9
Income tax provision	$ 28.1	$ 10.7	$ 192.0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Income Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Current:
Federal	$ 1.4	$ 9.2	$ 165.6
State	1.1	1.6	0.5
Foreign	26.5	15.8	23.0
Total Current	29.0	26.6	189.1
Deferred:
Federal	3.2	(8.1)	16.1
State	0.8	(0.9)	1.0
Foreign	(4.9)	(6.9)	(14.2)
Total Deferred	(0.9)	(15.9)	2.9
Income tax provision	$ 28.1	$ 10.7	$ 192.0

Income Taxes - Reconciliation of Provision for Income Taxes Attributable to Income from Operations and Amount Computed by Applying Statutory Federal Income Tax Rate to Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Computed expected provision for taxes	$ 56.0	$ 100.3	$ 77.5
Income earned outside the United States subject to different tax rates	(54.7)	(85.6)	(97.5)
State taxes, net of federal income tax benefit	1.9	0.4	(4.9)
Foreign source income subject to United States tax	32.0	16.1	0.0
U.S. tax reform	0.0	(5.8)	214.6
Incentive stock option compensation and non-deductible employee compensation	(4.4)	(7.8)	(11.1)
Deferred tax asset step-up	(9.0)	(6.7)	(1.9)
US provision-to-return	7.0	4.4	(0.7)
Tax accrual adjustment	(0.1)	(1.5)	13.9
Other, net	(0.6)	(3.1)	2.1
Income tax provision	$ 28.1	$ 10.7	$ 192.0

Income Taxes - Tax Effects of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Deferred tax assets:
Accounts receivable, principally due to allowances for doubtful accounts	$ 2.6	$ 3.6
Inventories	5.8	3.5
Litigation settlements	0.2	0.1
Accrued liabilities, reserves and compensation accruals	76.9	55.1
Foreign deferred tax assets	90.9	52.5
Restricted stock and stock option expenses	21.4	26.1
Net operating loss carryforwards	9.6	8.3
Intangible assets	19.6	11.1
Research and experimental expenses - Section 59(e)	9.2	2.5
Tax credit carryforwards	1.5	1.3
Total gross deferred tax assets	237.7	164.1
Less: valuation allowance	(45.3)	(41.5)
Deferred tax assets	192.4	122.6
Deferred tax liabilities:
Tax deductible goodwill	(29.7)	(25.0)
Plant and equipment	(39.2)	(14.3)
Deferred tax on foreign earnings	(7.5)	(5.9)
Transaction costs	(0.7)	(0.7)
Foreign deferred tax liabilities	(61.0)	(27.6)
Total gross deferred tax liabilities	(138.1)	(73.5)
Net deferred tax assets	$ 54.3	$ 49.1

Income Taxes - Aggregated Changes in the Balance of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Begining of the period	$ 49.7	$ 68.9
Decrease from prior year's UTB's		(11.8)
Increase from current year's UTB's	7.6	8.3
UTB (decrease) from tax authorities' settlements		(14.1)
UTB (decrease) from expiration of statute of limitations	(2.2)	(1.6)
Increase from prior year's UTB's	3.4
End of the period	$ 58.5	$ 49.7

Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Net income attributable to Cooper stockholders	$ 81.2	$ 55.2	$ 11.5	$ 90.5	$ 121.0	$ 120.1	$ 122.4	$ 103.2	$ 238.4	$ 466.7	$ 139.9
Basic:
Weighted average common shares (in shares)									49.1	49.4	49.1
Basic earnings per share attributable to Cooper stockholders (in dollars per share)	$ 1.65	$ 1.13	$ 0.23	$ 1.84	$ 2.44	$ 2.43	$ 2.48	$ 2.09	$ 4.85	$ 9.44	$ 2.85
Diluted:
Effect of dilutive stock options (in shares)									0.5	0.6	0.6
Diluted weighted average common shares (in shares)									49.6	50.0	49.7
Diluted earnings per share attributable to Cooper stockholders (in dollars per share)	$ 1.64	$ 1.12	$ 0.23	$ 1.82	$ 2.42	$ 2.40	$ 2.45	$ 2.07	$ 4.81	$ 9.33	$ 2.81

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Earnings Per Share - Stock Options to Purchase Common Stock and Restricted Stock Units Not Included in Diluted Earnings Per Share Due to Antidilutive Effect (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Range of exercise prices, lower limit (in dollars per share)	$ 304.54	$ 254.77	$ 226.30
Range of exercise prices, higher limit (in dollars per share)	$ 304.54	$ 254.77	$ 230.09
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock option shares and restricted stock units excluded (in shares)	207	198	257
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock option shares and restricted stock units excluded (in shares)	1	8	21

Stockholders' Equity - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 3,628.6	$ 3,307.8	$ 3,175.8
Gross change in value	(33.0)	(24.4)	(47.5)
Tax effect	8.1	8.0	(3.1)
Ending balance	3,824.8	3,628.6	3,307.8
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(447.1)	(430.7)	(375.3)
ASU 2018-02 adoption			(4.8)
Ending balance	(472.0)	(447.1)	(430.7)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(403.2)	(412.2)	(353.7)
Gross change in value	0.9	9.0	(58.5)
Tax effect	0.0	0.0	0.0
ASU 2018-02 adoption			0.0
Ending balance	(402.3)	(403.2)	(412.2)
Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.0	0.0	0.0
Gross change in value	(17.1)	0.0	0.0
Tax effect	4.1	0.0	0.0
ASU 2018-02 adoption			0.0
Ending balance	(13.0)	0.0	0.0
Minimum Pension Liability
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(43.9)	(18.5)	(21.6)
Gross change in value	(16.8)	(33.4)	11.0
Tax effect	4.0	8.0	(3.1)
ASU 2018-02 adoption			(4.8)
Ending balance	$ (56.7)	$ (43.9)	$ (18.5)

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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-Section 45
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 250
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-Section 45
-Paragraph 5
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=115929471&loc=d3e21711-107793

Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
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Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 235
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)

+ Details

Stockholders' Equity - Share Repurchases (Details) - USD ($)	Oct. 31, 2020	Mar. 31, 2017	Dec. 31, 2011
Stockholders' Equity Note [Abstract]
Share repurchase program, maximum amount authorized		$ 1,000,000,000.0	$ 500,000,000.0
Share repurchase program, remaining authorized amount	$ 359,700,000

Stockholders' Equity - Schedule of Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Stockholders' Equity Note [Abstract]
Number of shares	160,850	536,972
Average repurchase price per share (in dollars per share)	$ 296.9	$ 290.7
Total costs of shares repurchased (in millions)	$ 47.8	$ 156.1

Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions					12 Months Ended
	Aug. 07, 2020	Feb. 10, 2020	Aug. 07, 2019	Feb. 08, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Stockholders' Equity Note [Abstract]
Dividends on common stock	$ 1.5	$ 1.5	$ 1.5	$ 1.5	$ 3.0	$ 3.0	$ 2.9
Dividends on common stock (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.03

Stock Plans - Narrative (Details)		1 Months Ended		12 Months Ended
Stock Plans - Narrative (Details)	Mar. 18, 2019 USD ($) shares	Mar. 31, 2020 USD ($) director shares	Mar. 31, 2016 director shares	Oct. 31, 2020 USD ($) $ / shares shares	Oct. 31, 2019 USD ($) $ / shares	Oct. 31, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to nonvested options				$ 20,900,000
Share-based compensation expense				$ 38,600,000	$ 36,300,000	$ 43,200,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares) \| shares				212,046
Total unrecognized compensation cost expected to be recognized over a remaining weighted-average vesting period (in years)				3 years 4 months 24 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost expected to be recognized over a remaining weighted-average vesting period (in years)				3 years 2 months 12 days
Total unrecognized compensation cost related to nonvested units				$ 61,600,000
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Total unrecognized compensation cost related to nonvested units				$ 0
Performance Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target percentage of shares earned				0.00%
Performance Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target percentage of shares earned				150.00%
2020 Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non-employee directors in committee \| director		2
Number of shares authorized to be granted \| shares		50,000
Shares remaining for future grant (in shares) \| shares				42,929
Options granted in period (in shares) \| shares				0
2020 Directors Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price percentage of fair market value on date of grant of awards		100.00%
Award expiration date (no more than)		10 years
2020 Directors Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration date (no more than)				10 years
Award vesting period				1 year
2020 Directors Plan \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				1 year
Third Amended and Restated 2007 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non-employee directors in committee \| director			2
Number of shares authorized to be granted \| shares			6,930,000
Shares remaining for future grant (in shares) \| shares				1,088,901
Third Amended and Restated 2007 Long-Term Incentive Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price percentage of fair market value on date of grant of awards				100.00%
Award expiration date (no more than)				10 years
Third Amended and Restated 2007 Long-Term Incentive Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration date (no more than)				10 years
Weighted-average fair value of each option granted (in dollars per share) \| $ / shares				$ 70.45	$ 60.71
Total intrinsic value of options exercised				$ 22,600,000
Third Amended and Restated 2007 Long-Term Incentive Plan \| Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Third Amended and Restated 2007 Long-Term Incentive Plan \| Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				5 years
Third Amended and Restated 2007 Long-Term Incentive Plan \| Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Third Amended and Restated 2007 Long-Term Incentive Plan \| Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				5 years
Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be granted \| shares	1,000,000
Exercise price percentage of fair market value on date of grant of awards	85.00%
Percentage of employees maximum eligible compensation for purchase of awards	15.00%
Amount of employees maximum eligible compensation for purchase of awards	$ 21,300
Number of shares issued to employees \| shares				11,641
Number of shares remaining available for future issuance \| shares				988,359
Share-based compensation expense				$ 700,000
Share-Based Payment Arrangement, Nonemployee, Director \| 2020 Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant value of awards		$ 270,000
Share-Based Payment Arrangement, Nonemployee, Lead Director \| 2020 Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant value of awards		283,500
Share-Based Payment Arrangement, Nonemployee, Chairman \| 2020 Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grant value of awards		$ 297,000

Stock Plans - Compensation Expense and Related Income Tax Benefit for Share-Based Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 38.6	$ 36.3	$ 43.2
Related income tax benefit	4.8	5.1	8.8
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	32.2	28.7	37.6
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	4.0	4.7	3.6
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 2.4	$ 2.9	$ 2.0

Stock Plans - Assumptions Used in Estimating Fair Value of Stock Options Award Granted (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life			5 years 4 months 24 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	4 years 4 months 24 days	4 years 4 months 24 days
Expected volatility	24.50%	22.00%	23.00%
Risk-free interest rate	1.60%	2.90%	2.00%
Dividend yield	0.02%	0.02%	0.03%

Stock Plans - Stock Option Plans (Details)	12 Months Ended
Stock Plans - Stock Option Plans (Details)	Oct. 31, 2020 USD ($) $ / shares shares
Number of Shares
Vested and expected to vest at end of period (in shares) \| shares	1,060,738
Vested and exercisable at end of period (in shares) \| shares	430,926
Weighted- Average Exercise Price Per Share
Vested and expected to vest at end of period (in dollars per share) \| $ / shares	$ 211.04
Vested and exercisable at end of period (in dollars per share) \| $ / shares	$ 167.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Vested and expected to vest at end of period, Weighted-Average Remaining Contractual Term (in years)	6 years 4 months 9 days
Vested and exercisable at end of period, Weighted-Average Remaining Contractual Term (in years)	5 years 3 days
Vested and expected to vest at end of period, Aggregate Intrinsic Value \| $	$ 114,567,509
Vested and exercisable at end of period, Aggregate Intrinsic Value \| $	$ 65,485,571
Stock Options
Number of Shares
Outstanding, beginning balance (in shares) \| shares	1,024,752
Granted (in shares) \| shares	212,046
Exercised (in shares) \| shares	(105,045)
Forfeited or expired (in shares) \| shares	(28,246)
Outstanding, ending balance (in shares) \| shares	1,103,507
Weighted- Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 186.24
Granted (in dollars per share) \| $ / shares	304.54
Exercised (in dollars per share) \| $ / shares	128.43
Forfeited or expired (in dollars per share) \| $ / shares	223.28
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 213.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, ending balance, Weighted Average Remaining Contractual Term (in years)	6 years 5 months 8 days

Stock Plans - Non-Vested RSUs (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Oct. 31, 2020 $ / shares shares
Number of Shares
Nonvested RSUs, beginning balance (in shares) \| shares	429,571
Granted (in shares) \| shares	130,610
Vested and issued (in shares) \| shares	(151,613)
Forfeited or expired (in shares) \| shares	(39,948)
Nonvested RSUs, ending balance (in shares) \| shares	368,620
Weighted- Average Grant Date Fair Value Per Share
Non-vested RSUs, beginning balance (in dollars per share) \| $ / shares	$ 210.72
Granted (in dollars per share) \| $ / shares	301.59
Vested and issued (in dollars per share) \| $ / shares	192.10
Forfeited or exercised (in dollars per share) \| $ / shares	242.12
Non-vested RSUs, ending balance (in dollars per share) \| $ / shares	$ 247.09

Employee Benefits - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.13%	4.42%	3.75%
Discount rate, decrease	1.29%
Projected defined benefit plan benefit obligation	$ 207.8
Projected defined accumulated benefit obligation	186.3
Actuarial loss (gain)	$ 20.0	$ 36.6	$ (16.6)
Expected long-term return on diversified portfolio	8.00%
Company's contribution to the pension plan	$ 23.4	13.1	10.0
Expected future contribution in pension plan	$ 10.0
Maximum annual contributions per employee in 401k savings plan	75.00%
Contributions by employer in 401k savings plan	$ 6.8	$ 6.5	$ 5.9
Minimum \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Diversified portfolio, allocation of assets in equities	50.00%
Maximum \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Diversified portfolio, allocation of assets in equities	70.00%
Change In Assumptions For Defined Benefit Plans, Change In Key Assumptions
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	$ 18.1
Change In Assumptions For Defined Benefit Plans, Change In Demographic Experience
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	1.9
Change In Assumptions For Defined Benefit Plans, Change In Discount Rate
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	11.0
Change In Assumptions For Defined Benefit Plans, Change In Lump Sum Determination
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	8.4
Change In Assumptions For Defined Benefit Plans, Change In Mortality Assumption
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss (gain)	$ (1.3)

Employee Benefits - Changes in Benefit Obligation, Changes in Plan Assets and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Change in benefit obligation
Benefit obligation, beginning of year	$ 189.7	$ 147.1	$ 151.7
Service cost	13.9	10.1	10.7
Interest cost	5.2	6.1	5.0
Benefits paid	(10.0)	(10.2)	(3.7)
Actuarial loss (gain)	20.0	36.6	(16.6)
Benefit obligation, end of year	218.8	189.7	147.1
Change in plan assets
Fair value of plan assets, beginning of year	136.0	121.0	112.8
Actual return on plan assets	10.1	12.1	1.9
Employer contributions	23.4	13.1	10.0
Benefits paid	(10.0)	(10.2)	(3.7)
Fair value of plan assets, end of year	159.5	136.0	121.0
Funded status at end of year	$ (59.3)	$ (53.7)	$ (26.1)

Employee Benefits - Amount Recognized in Statement of Financial Position (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities	$ (59.3)	$ (53.7)	$ (26.1)
Net amount recognized at year end	$ (59.3)	$ (53.7)	$ (26.1)

Employee Benefits - Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Amounts recognized in accumulated other comprehensive income consist of:
Net loss	$ 74.2	$ 57.3	$ 24.0
Accumulated other comprehensive income	$ 74.2	$ 57.3	$ 24.0

Employee Benefits - Pension Plans with Projected Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Information for pension plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$ 218.8	$ 189.7	$ 147.1
Fair value of plan assets	$ 159.5	$ 136.0	$ 121.0

Employee Benefits - Pension Plans with Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Information for pension plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation	$ 195.8	$ 170.8	$ 130.5
Fair value of plan assets	$ 159.5	$ 136.0	$ 121.0

Employee Benefits - Reconciliation of Prepaid (Accrued) Pension Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Reconciliation of prepaid (accrued) pension cost:
Accrued pension cost at prior fiscal year end	$ (3.7)	$ 2.2	$ 4.0
Net periodic benefit cost	12.3	7.2	8.2
Contributions made during the year	(23.4)	(13.1)	(10.0)
Accrued pension cost at prior fiscal year end	$ (14.8)	$ (3.7)	$ 2.2

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Employee Benefits - Components of Net Periodic Pension Costs and Other Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Retirement Benefits [Abstract]
Service cost	$ 13.9	$ 10.1	$ 10.7
Interest cost	5.2	6.1	5.0
Expected return on plan assets	(10.8)	(9.8)	(9.2)
Recognized actuarial loss	4.0	0.8	1.7
Net periodic pension cost	$ 12.3	$ 7.2	$ 8.2

Employee Benefits - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	$ 20.8	$ 34.2	$ (9.3)
Amortizations of net (gain)	(4.0)	(0.8)	(1.7)
Total recognized in other comprehensive income	16.8	33.4	(11.0)
Total recognized in net periodic benefit cost and other comprehensive income	$ 29.0	$ 40.6	$ (2.8)

Employee Benefits - Weighted-Average Assumptions Used in Computing Net Periodic Pension Cost and Projected Benefit Obligation (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Discount rate for determining net periodic pension cost:
Projected Benefit Obligation	3.13%	4.42%	3.75%
Service Cost	3.18%	4.49%	3.85%
Interest Cost	2.78%	4.22%	3.39%
Discount rate for determining benefit obligations at year end	2.78%	3.13%	4.42%
Rate of compensation increase for determining expense	3.60%	4.00%	4.00%
Rate of compensation increase for determining benefit obligations at year end	3.60%	3.60%	4.00%
Expected rate of return on plan assets for determining net periodic pension cost	8.00%	8.00%	8.00%
Expected rate of return on plan assets at year end	8.00%	8.00%	8.00%

Employee Benefits - Weighted-Average Asset Allocations by Asset Category (Details)	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	100.00%	100.00%	100.00%
Cash and cash equivalents
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	11.80%	3.20%	2.10%
Corporate common stock
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	0.00%	0.00%	14.50%
Equity mutual funds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	57.70%	63.70%	47.40%
Hedging Strategy Funds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	4.30%	4.90%	0.00%
Real estate funds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	0.00%	0.00%	2.70%
Bond mutual funds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Asset allocation	26.20%	28.20%	33.30%

Employee Benefits - Fair Value Measurement of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	$ 159.5	$ 136.0	$ 121.0	$ 112.8
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	114.2
Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	45.3
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Cash and cash equivalents
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	18.8
Cash and cash equivalents \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Cash and cash equivalents \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	18.8
Cash and cash equivalents \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Equity mutual funds
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	91.9
Equity mutual funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	91.9
Equity mutual funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Equity mutual funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Hedging Strategy Funds
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	6.9
Hedging Strategy Funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	6.9
Hedging Strategy Funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Hedging Strategy Funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	0.0
Bond mutual funds
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	41.9
Bond mutual funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	15.4
Bond mutual funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	26.5
Bond mutual funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Fair value of plan assets	$ 0.0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Employee Benefits - Estimated Future Benefit Payments (Details) $ in Millions	Oct. 31, 2020 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	$ 10.0
2022	11.0
2023	11.9
2024	12.9
2025	13.7
2026-2030	$ 76.3

Fair Value Measurements (Details) - Interest Rate Swap		9 Months Ended
Fair Value Measurements (Details) - Interest Rate Swap	Apr. 06, 2020 USD ($) interest_rate_swap_contract	Jul. 31, 2020	Oct. 31, 2020 USD ($)	Oct. 01, 2020 interest_rate_swap_contract
Derivative [Line Items]
Number of interest rate swap contracts held	6
Derivative, term of contract (or less)	7 years	7 years
Number of interest rate swap contracts matured				1
Derivative notional amount \| $	$ 1,500,000,000		$ 1,400,000,000

Business Segment Information - Narrative (Details)	12 Months Ended
Business Segment Information - Narrative (Details)	Oct. 31, 2020 segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segment Information - Business Segment Net Sales (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 681.6	$ 578.2	$ 524.9	$ 646.2	$ 691.6	$ 679.4	$ 654.3	$ 628.1	$ 2,430.9	$ 2,653.4	$ 2,532.8
CooperVision
Segment Reporting Information [Line Items]
Net sales									1,843.0	1,972.9	1,882.0
CooperSurgical
Segment Reporting Information [Line Items]
Net sales									587.9	680.5	650.8
Toric lens \| CooperVision
Segment Reporting Information [Line Items]
Net sales									598.2	620.0	591.4
Multifocal lens \| CooperVision
Segment Reporting Information [Line Items]
Net sales									197.0	202.9	196.6
Single-use sphere lens \| CooperVision
Segment Reporting Information [Line Items]
Net sales									529.0	568.2	520.1
Non single-use sphere, other \| CooperVision
Segment Reporting Information [Line Items]
Net sales									518.8	581.8	573.9
Office and surgical products \| CooperSurgical
Segment Reporting Information [Line Items]
Net sales									358.8	422.4	400.4
Fertility \| CooperSurgical
Segment Reporting Information [Line Items]
Net sales									$ 229.1	$ 258.1	$ 250.4

Business Segment Information - Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 681.6	$ 578.2	$ 524.9	$ 646.2	$ 691.6	$ 679.4	$ 654.3	$ 628.1	$ 2,430.9	$ 2,653.4	$ 2,532.8
Operating income (loss)									311.8	546.7	403.1
Interest expense									36.8	68.0	82.7
Other expense (income), net									8.5	1.3	(11.5)
Income before income taxes									266.5	477.4	331.9
Identifiable assets	6,737.5				6,274.5				6,737.5	6,274.5	6,112.8
Depreciation expense									149.9	135.0	128.4
Amortization expense									137.2	145.8	146.7
Capital expenditures									310.4	292.1	193.6
CooperVision
Segment Reporting Information [Line Items]
Net sales									1,843.0	1,972.9	1,882.0
CooperSurgical
Segment Reporting Information [Line Items]
Net sales									587.9	680.5	650.8
Corporate
Segment Reporting Information [Line Items]
Net sales									0.0	0.0	0.0
Operating income (loss)									(49.2)	(47.6)	(56.8)
Identifiable assets	207.4				173.1				207.4	173.1	165.1
Depreciation expense									0.0	0.2	0.2
Amortization expense									0.0	0.0	0.0
Capital expenditures									0.0	0.0	0.1
Operating Segments \| CooperVision
Segment Reporting Information [Line Items]
Net sales									1,843.0	1,972.9	1,882.0
Operating income (loss)									375.7	506.4	479.8
Identifiable assets	4,236.3				3,911.6				4,236.3	3,911.6	3,746.0
Depreciation expense									138.2	125.8	120.1
Amortization expense									32.4	40.9	43.6
Capital expenditures									260.3	259.0	178.4
Operating Segments \| CooperSurgical
Segment Reporting Information [Line Items]
Net sales									587.9	680.5	650.8
Operating income (loss)									(14.7)	87.9	(19.9)
Identifiable assets	$ 2,293.8				$ 2,189.8				2,293.8	2,189.8	2,201.7
Depreciation expense									11.7	9.0	8.1
Amortization expense									104.8	104.9	103.1
Capital expenditures									$ 50.1	$ 33.1	$ 15.1

Business Segment Information - Information by Geographical Area by Country of Domicile (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 681.6	$ 578.2	$ 524.9	$ 646.2	$ 691.6	$ 679.4	$ 654.3	$ 628.1	$ 2,430.9	$ 2,653.4	$ 2,532.8
Operating income (loss)									311.8	546.7	403.1
Long-lived assets	1,281.9				1,132.1				1,281.9	1,132.1	976.0
United States
Segment Reporting Information [Line Items]
Net sales									1,103.6	1,211.8	1,162.2
Europe
Segment Reporting Information [Line Items]
Net sales									789.8	854.8	846.5
Rest of World
Segment Reporting Information [Line Items]
Net sales									537.5	586.8	524.1
Geography Eliminations \| United States
Segment Reporting Information [Line Items]
Net sales									(391.7)	(650.7)	(274.3)
Geography Eliminations \| Europe
Segment Reporting Information [Line Items]
Net sales									(327.1)	(300.8)	(407.1)
Geography Eliminations \| Rest of World
Segment Reporting Information [Line Items]
Net sales									(718.8)	(951.5)	(681.4)
Reportable Geographical Components \| United States
Segment Reporting Information [Line Items]
Net sales									1,495.3	1,862.5	1,436.5
Operating income (loss)									(14.5)	83.2	(39.3)
Long-lived assets	721.3				626.5				721.3	626.5	516.7
Reportable Geographical Components \| Europe
Segment Reporting Information [Line Items]
Net sales									1,116.9	1,155.6	1,253.6
Operating income (loss)									21.9	29.3	(16.8)
Long-lived assets	363.0				358.8				363.0	358.8	340.7
Eliminations, Corporate and Reconciling Items \| Rest of World
Segment Reporting Information [Line Items]
Net sales									(181.3)	(364.7)	(157.3)
Operating income (loss)									304.4	434.2	459.2
Long-lived assets	$ 197.6				$ 146.8				$ 197.6	$ 146.8	$ 118.6

Financial Derivatives and Hedging - Outstanding Derivatives Designated as Hedging Instruments (Details) - Interest Rate Swap	Oct. 31, 2020 USD ($) interest_rate_swap_contract	Apr. 06, 2020 USD ($)
Derivative [Line Items]
Number of Instruments \| interest_rate_swap_contract	5
Notional Value \| $	$ 1,400,000,000	$ 1,500,000,000

Financial Derivatives and Hedging - Narrative (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
	Apr. 06, 2020	Jul. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Pre-tax impact of loss on derivatives recognized in other comprehensive income (loss)			$ 17.1
After tax impact of loss on derivatives recognized in other comprehensive income (loss)			13.0	$ 0.0	$ 0.0
Derivative loss expected to be realized in earnings over the next twelve months			$ 6.8
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swap contracts, contract term (or less)	7 years	7 years

Financial Derivatives and Hedging - Fair Values of Derivative Instruments in Condensed Consolidated Balance Sheets (Details) - Designated as Hedging Instrument - Interest Rate Swap $ in Millions	Oct. 31, 2020 USD ($)
Derivatives, Fair Value [Line Items]
Interest rate swap contracts	$ 17.1
Other current liabilities
Derivatives, Fair Value [Line Items]
Interest rate swap contracts	0.6
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Interest rate swap contracts	$ 16.5

- Derivative Instruments Recognized in Condensed Consolidated Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Interest expense \| Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss recognized on derivatives within interest expense	$ 3.7	$ 0.0	$ 0.0

Financial Derivatives and Hedging - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	$ 3,628.6	$ 3,307.8	$ 3,175.8
Amount recognized in other comprehensive income on interest rate swaps contracts, tax benefit	5.0
Amount reclassified from other comprehensive income into earnings, tax expense	0.9
Ending balance	3,824.8	3,628.6	3,307.8
Accumulated Gain (Loss), Net, Cash Flow Hedge, Before Tax, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	0.0
Ending balance	(17.1)	0.0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	0.0	0.0	0.0
Amount recognized in other comprehensive income on interest rate swap contracts (net of tax of $5.0 million)	(20.8)
Amount reclassified from other comprehensive income into earnings, gross (net of tax of $0.9 million)	3.7
Ending balance	$ (13.0)	$ 0.0	$ 0.0

- Definition

+ References

+ Details

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 681.6	$ 578.2	$ 524.9	$ 646.2	$ 691.6	$ 679.4	$ 654.3	$ 628.1	$ 2,430.9	$ 2,653.4	$ 2,532.8
Gross profit	424.0	360.8	323.5	426.5	455.0	450.7	432.6	418.5	1,534.8	1,756.8	1,632.3
Income before income taxes	93.7	66.4	9.0	97.4	128.5	127.0	128.1	93.8
Net income attributable to Cooper stockholders	$ 81.2	$ 55.2	$ 11.5	$ 90.5	$ 121.0	$ 120.1	$ 122.4	$ 103.2	$ 238.4	$ 466.7	$ 139.9
Basic earnings per share attributable to Cooper stockholders (in dollars per share)	$ 1.65	$ 1.13	$ 0.23	$ 1.84	$ 2.44	$ 2.43	$ 2.48	$ 2.09	$ 4.85	$ 9.44	$ 2.85
Diluted earnings per share attributable to Cooper stockholders (in dollars per share)	$ 1.64	$ 1.12	$ 0.23	$ 1.82	$ 2.42	$ 2.40	$ 2.45	$ 2.07	$ 4.81	$ 9.33	$ 2.81

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Schedule II - Valuation and Qualifying Accounts for Allowance for Doubtful Accounts (Details) - SEC Schedule, 12-09, Allowance, Credit Loss - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	$ 16.4	$ 19.0	$ 10.8
Additions Charged to Costs and Expenses	3.6	1.6	11.5
(Deductions) Recoveries/ Other	(9.8)	(4.2)	(3.3)
Balance at End of Year	$ 10.2	$ 16.4	$ 19.0

Schedule II - Valuation and Qualifying Accounts for Deferred Income Tax Valuation Allowance (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance Beginning of Year	$ 41.5	$ 39.1	$ 59.1
Additions	5.9	3.9	2.8
Reductions/ Charges	2.1	(1.5)	(22.8)
Balance at End of Year	$ 45.3	$ 41.5	$ 39.1

Schedule II - Valuation and Qualifying Accounts for Deferred Income Tax Valuation Allowance Footnote (Details) $ in Millions	12 Months Ended
	Oct. 31, 2018 USD ($)
SEC Schedule, 12-09, Valuation Allowance, Tax Credit Carryforward
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation allowance from prior years	$ 16.5

Label	Element	Value
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 900,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	500,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 2,500,000