The Cooper Companies, Inc. (COO) 10-Q 2 Jun 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Apr. 30, 2023	May 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2023
Document Transition Report	false
Entity File Number	1-8597
Entity Registrant Name	The Cooper Companies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2657368
Entity Address, Address Line One	6101 Bollinger Canyon Road
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	San Ramon
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583
City Area Code	925
Local Phone Number	460-3600
Title of 12(b) Security	Common Stock, $.10 par value
Trading Symbol	COO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,507,924
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000711404
Current Fiscal Year End Date	--10-31

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
Net sales	$ 877.4	$ 829.8	$ 1,735.9	$ 1,616.9
Cost of sales	294.5	297.3	594.5	566
Gross profit	582.9	532.5	1,141.4	1,050.9
Selling, general and administrative expense	407.5	322.4	738.4	641.5
Research and development expense	32.6	26.3	64.2	52.4
Amortization of intangibles	46.5	51.1	93	93.4
Operating income	96.3	132.7	245.8	263.6
Interest expense	26.1	10.8	52.2	17.4
Other expense (income), net	4.6	(41.8)	5.9	(39.4)
Income before income taxes	65.6	163.7	187.7	285.6
Provision for income taxes (Note 6)	25.8	37.1	63.3	63.8
Net income	$ 39.8	$ 126.6	$ 124.4	$ 221.8
Earnings per share (Note 7):
Basic (in dollars per share)	$ 0.80	$ 2.57	$ 2.52	$ 4.49
Diluted (in dollars per share)	$ 0.80	$ 2.55	$ 2.50	$ 4.45
Number of shares used to compute earnings per share:
Basic (in shares)	49.5	49.3	49.4	49.4
Diluted (in shares)	49.8	49.7	49.7	49.8
Other comprehensive income, net of tax:
Cash flow hedges	$ (5.5)	$ 39.3	$ (26.5)	$ 52.7
Foreign currency translation adjustment	(14.5)	(96.6)	69.5	(145.8)
Comprehensive income	$ 19.8	$ 69.3	$ 167.4	$ 128.7

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Current assets:
Cash and cash equivalents	$ 111.9	$ 138.2
Trade accounts receivable, net of allowance for credit losses of $21.0 at April 30, 2023, and $20.7 at October 31, 2022	564.7	557.8
Inventories (Note 3)	699	628.7
Prepaid expense and other current assets	223.7	208.9
Total current assets	1,599.3	1,533.6
Property, plant and equipment, net	1,489.8	1,432.9
Goodwill	3,660	3,609.7
Other intangibles, net (Note 4)	1,815	1,885.1
Deferred tax assets	2,390.6	2,443.1
Other assets	584.8	587.9
Total assets	11,539.5	11,492.3
Current liabilities:
Short-term debt (Note 5)	74.5	412.6
Accounts payable	242.4	248.8
Employee compensation and benefits	131.1	152.1
Deferred revenue	119.7	93.6
Other current liabilities	381.4	373.1
Total current liabilities	949.1	1,280.2
Long-term debt (Note 5)	2,565.7	2,350.8
Deferred tax liabilities	139	149.9
Long-term tax payable	90.7	113.2
Deferred revenue	182.6	198.3
Accrued pension liability and other	234.4	225.2
Total liabilities	4,161.5	4,317.6
Contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $10 cents par value, 1.0 shares authorized, zero shares issued or outstanding	0	0
Common stock, $10 cents par value, 120.0 shares authorized, 53.9 issued and 49.5 outstanding at April 30, 2023, and 53.8 issued and 49.3 outstanding at October 31, 2022	5.4	5.4
Additional paid-in capital	1,800.7	1,765.5
Accumulated other comprehensive loss	(423.8)	(466.8)
Retained earnings	6,707.8	6,584.9
Treasury stock at cost: 4.4 shares at April 30, 2023, and 4.5 shares at October 31, 2022	(712.3)	(714.5)
Total Cooper stockholders’ equity	7,377.8	7,174.5
Noncontrolling interests	0.2	0.2
Stockholders’ equity (Note 9)	7,378	7,174.7
Total liabilities and stockholders’ equity	$ 11,539.5	$ 11,492.3

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts	$ 21	$ 20.7
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
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)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	53,900,000	53,800,000
Common stock, outstanding (in shares)	49,500,000	49,300,000
Treasury stock (in shares)	4,400,000	4,500,000

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Shares	Treasury Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests
Common stock, beginning balance (in shares) at Oct. 31, 2021		49,300,000
Beginning balance at Oct. 31, 2021	$ 6,942	$ 5	$ (639.6)	$ 0.4	$ 1,715.2	$ (341.3)	$ 6,202.1	$ 0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2021			4,400,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	95.3						95.3
Other comprehensive income (loss), net of tax	(35.9)					(35.9)
Issuance of common stock for stock plans, net and employee stock purchase plan (in shares)		100,000	700,000
Issuance of common stock for stock plans, net and employee stock purchase plan	(8.1)				(8.8)
Dividends on common stock ($0.03 per share)	(1.5)						(1.5)
Share-based compensation expense	12.8				12.8
Stock repurchase (in shares)		(200,000)	(200,000)
Stock repurchase	(78.5)		$ (78.5)
Common stock, ending balance (in shares) at Jan. 31, 2022		49,200,000
Ending balance at Jan. 31, 2022	6,926.1	$ 5	$ (717.4)	0.4	1,719.2	(377.2)	6,295.9	0.2
Treasury stock, ending balance (in shares) at Jan. 31, 2022			4,600,000
Common stock, beginning balance (in shares) at Oct. 31, 2021		49,300,000
Beginning balance at Oct. 31, 2021	6,942	$ 5	$ (639.6)	0.4	1,715.2	(341.3)	6,202.1	0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2021			4,400,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 221.8
Stock repurchase (in shares)	(191,200)
Stock repurchase	$ (78.5)
Common stock, ending balance (in shares) at Apr. 30, 2022		49,300,000
Ending balance at Apr. 30, 2022	7,013.8	$ 5	$ (716.6)	0.4	1,736.8	(434.5)	6,422.5	0.2
Treasury stock, ending balance (in shares) at Apr. 30, 2022			4,600,000
Common stock, beginning balance (in shares) at Jan. 31, 2022		49,200,000
Beginning balance at Jan. 31, 2022	6,926.1	$ 5	$ (717.4)	0.4	1,719.2	(377.2)	6,295.9	0.2
Treasury stock, beginning balance (in shares) at Jan. 31, 2022			4,600,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126.6						126.6
Other comprehensive income (loss), net of tax	(57.3)					(57.3)
Issuance of common stock for stock plans, net and employee stock purchase plan (in shares)		100,000
Issuance of common stock for stock plans, net and employee stock purchase plan	5.7		$ 0.8		4.9
Share-based compensation expense	$ 12.7				12.7
Stock repurchase (in shares)	0
Common stock, ending balance (in shares) at Apr. 30, 2022		49,300,000
Ending balance at Apr. 30, 2022	$ 7,013.8	$ 5	$ (716.6)	0.4	1,736.8	(434.5)	6,422.5	0.2
Treasury stock, ending balance (in shares) at Apr. 30, 2022			4,600,000
Common stock, beginning balance (in shares) at Oct. 31, 2022	49,300,000	49,300,000
Beginning balance at Oct. 31, 2022	$ 7,174.7	$ 5	$ (714.5)	0.4	1,765.5	(466.8)	6,584.9	0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2022	4,500,000		4,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 84.6						84.6
Other comprehensive income (loss), net of tax	63					63
Issuance of common stock for stock plans, net and employee stock purchase plan (in shares)		100,000
Issuance of common stock for stock plans, net and employee stock purchase plan	(1.3)		$ 1.2		(2.5)
Dividends on common stock ($0.03 per share)	(1.5)						(1.5)
Share-based compensation expense	16.2				16.2
Common stock, ending balance (in shares) at Jan. 31, 2023		49,400,000
Ending balance at Jan. 31, 2023	$ 7,335.7	$ 5	$ (713.3)	0.4	1,779.2	(403.8)	6,668	0.2
Treasury stock, ending balance (in shares) at Jan. 31, 2023			4,500,000
Common stock, beginning balance (in shares) at Oct. 31, 2022	49,300,000	49,300,000
Beginning balance at Oct. 31, 2022	$ 7,174.7	$ 5	$ (714.5)	0.4	1,765.5	(466.8)	6,584.9	0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2022	4,500,000		4,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 124.4
Stock repurchase (in shares)	0
Common stock, ending balance (in shares) at Apr. 30, 2023	49,500,000	49,500,000
Ending balance at Apr. 30, 2023	$ 7,378	$ 5	$ (712.3)	0.4	1,800.7	(423.8)	6,707.8	0.2
Treasury stock, ending balance (in shares) at Apr. 30, 2023	4,400,000		4,400,000
Common stock, beginning balance (in shares) at Jan. 31, 2023		49,400,000
Beginning balance at Jan. 31, 2023	$ 7,335.7	$ 5	$ (713.3)	0.4	1,779.2	(403.8)	6,668	0.2
Treasury stock, beginning balance (in shares) at Jan. 31, 2023			4,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	39.8						39.8
Other comprehensive income (loss), net of tax	(20)					(20)
Issuance of common stock for stock plans, net and employee stock purchase plan (in shares)		100,000	(100,000)
Issuance of common stock for stock plans, net and employee stock purchase plan	7.8		$ 1		6.8
Share-based compensation expense	$ 14.7				14.7
Stock repurchase (in shares)	0
Common stock, ending balance (in shares) at Apr. 30, 2023	49,500,000	49,500,000
Ending balance at Apr. 30, 2023	$ 7,378	$ 5	$ (712.3)	$ 0.4	$ 1,800.7	$ (423.8)	$ 6,707.8	$ 0.2
Treasury stock, ending balance (in shares) at Apr. 30, 2023	4,400,000		4,400,000

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders' Equity (Parenthetical) - $ / shares			3 Months Ended
	Feb. 10, 2023	Feb. 09, 2022	Jan. 31, 2023	Jan. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.03	$ 0.03	$ 0.03	$ 0.03

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Cash flows from operating activities:
Net income	$ 124,400	$ 221,800
Depreciation and amortization	180,500	175,400
Settlement of contingent consideration	0	(40,700)
Change in fair value of contingent consideration	(31,800)	0
Accrual for acquisition termination fee	45,000	0
Net changes in operating capital	(103,000)	(52,400)
Other non-cash items	75,700	(6,300)
Net cash provided by operating activities	290,800	297,800
Cash flows from investing activities:
Purchases of property, plant and equipment	(156,600)	(100,500)
Acquisitions of businesses and assets, net of cash acquired, and other	(38,700)	(1,637,100)
Proceeds from sale of interest in a subsidiary	0	52,600
Net cash used in investing activities	(195,300)	(1,685,000)
Cash flows from financing activities:
Proceeds from long-term debt, net of issuance costs	1,199,300	1,499,500
Repayments of long-term debt	(985,500)	(549,000)
Net (repayments of) proceeds from short-term debt	(342,500)	832,300
Net proceeds (payments) related to share-based compensation awards	2,100	(7,500)
Dividends on common stock	(1,500)	(1,500)
Repurchase of common stock	0	(78,500)
Issuance of common stock for employee stock purchase plan	3,700	3,400
Settlement of contingent consideration	0	(2,200)
Net cash (used in) provided by financing activities	(124,400)	1,696,500
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,400	(6,300)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(26,500)	303,000
Cash, cash equivalents, and restricted cash at beginning of period	138,600	96,600
Cash, cash equivalents, and restricted cash at end of period	112,100	399,600
Reconciliation of cash flow information:
Cash and cash equivalents	111,900	399,200
Restricted cash included in other current assets	200	400
Total cash, cash equivalents, and restricted cash	$ 112,100	$ 399,600

General

General	6 Months Ended
	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note 1. General The accompanying Consolidated Condensed Financial Statements of The Cooper Companies, Inc. and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) for interim financial information and with the requirements of Regulation S-X, Rule 10-01 for financial statements required to be filed as a part of this Quarterly Report on Form 10-Q. Unless the context requires otherwise, terms "the Company", "we", "us", and "our" are used to refer collectively to The Cooper Companies, Inc. and its subsidiaries. The accompanying Consolidated Condensed Financial Statements and related notes are unaudited and should be read in conjunction with the audited Consolidated Financial Statements of the Company and related notes as contained in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2022. The Consolidated Condensed Financial Statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair presentation of the results for the interim periods presented. Accounting Policies There have been no material changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022. Estimates The preparation of Consolidated Condensed 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. 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. Accounting Pronouncements Recently Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . This update requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This standard is effective for fiscal years beginning after December 15, 2021, and should be applied either prospectively or retrospectively. Early adoption is permitted. The Company adopted this guidance prospectively on November 1, 2022, and it did not have a material impact on the Consolidated Condensed Financial Statements. 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 and subsequent amendment to the initial guidance: ASU 2021-01, Reference Rate Reform (Topic 848): Scope (collectively, “Topic 848”). Topic 848 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. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . ASU 2022-06 defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. Effective February 1, 2023, the Company transitioned its credit agreements from LIBOR to the Secured Overnight Financing Rate ("SOFR"). The Company adopted this guidance prospectively on February 1, 2023, and it did not have a material impact on the Consolidated Condensed Financial Statements. No other recently issued accounting pronouncements had or are expected to have a material impact on the Company's Consolidated Condensed Financial Statements.

Acquisitions and Joint Venture

Acquisitions and Joint Venture	6 Months Ended
	Apr. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Joint Venture	Note 2. Acquisitions and Joint Venture 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. On November 1, 2022, CooperVision completed the acquisition of a privately-held U.S.-based company that provides a broad portfolio of technologically advanced contact lens products, including scleral and hybrid lenses. The purchase price of the acquisition was $33.0 million. Based upon preliminary valuations, assets acquired primarily comprised $12.6 million of customer relationship related intangibles, $7.6 million of technology, and $13.1 million of goodwill. The goodwill is not deductible for tax purposes. The purchase price allocation is preliminary, and the Company is in the process of finalizing information primarily related to the effect on taxes and the corresponding impact on goodwill. On April 6, 2022, CooperSurgical entered into an asset purchase agreement to acquire Cook Medical's Reproductive Health business, a manufacturer of minimally invasive medical devices focused on the fertility, obstetrics and gynecology markets. The aggregate consideration is $875.0 million in cash, with $675.0 million payable at the closing and the remaining $200.0 million payable in $50.0 million installments following each of the first, second, third and fourth anniversaries of the closing. The transaction is subject to customary closing conditions, such as receipt of required regulatory approvals. During the three months ended April 30, 2023, CooperSurgical determined that the fulfillment of certain closing conditions related to regulatory approvals was no longer probable and accrued $45.0 million in expenses associated with the probable payment in August 2023 of a termination fee under the asset purchase agreement. The termination fee is recorded in "selling, general and administrative expense" on the Consolidated Condensed Statements of Income and Comprehensive Income. Joint Venture On January 19, 2021, CooperVision acquired all of the remaining equity interests of SightGlass Vision, Inc. (SGV), a privately-held medical device company that developed spectacle lenses for myopia management. The transaction included potential payments of future consideration that were contingent upon the achievement of the regulatory approval milestone (the regulatory approval payment) and the acquired business reaching certain revenue thresholds over a specified period (the revenue pa yments). The undiscounted range of the contingent consideration was zero to $139.1 million payable to the other former equity interest owners. In March 2022, the entities amended the terms of the contingent consideration, which resulted in CooperVision paying $42.9 million to the former equity interest owners in exchange for the elimination of the revenue payments. CooperVision recognized a net gain of $12.2 million during fiscal 2022. Further, CooperVision and Essilor International SAS (Essilor) executed the Contribution Agreement and Stock Purchase Agreement (the “Agreements”) in March 2022. Essilor paid CooperVision $52.1 million in exchange for 50% interest in SGV and their proportionate share of the revenue payments. As part of the Agreements, each party contributed their interest in SGV and $10 million in cash to form a new joint venture. CooperVision then remeasured the fair value of its retained equity investment in the joint venture at $90.0 million which resulted in a $56.9 million gain in Other (income) expense on deconsolidation of SGV in fiscal 2022. During the six months ended April 30, 2023, CooperVision determined that approval would not be achieved within the timeline set forth in the contractual terms of the regulatory approval payment and released the remaining $31.8 million contingent consideration liability. Additional information regarding the joint venture is included in our notes to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022.

Inventories

Inventories	6 Months Ended
	Apr. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Note 3. Inventories (In millions) April 30, 2023 October 31, 2022 Raw materials $ 206.4 $ 173.7 Work-in-process 17.6 15.2 Finished goods 475.0 439.8 Total inventories $ 699.0 $ 628.7

Intangible Assets

Intangible Assets	6 Months Ended
	Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 4. Intangible Assets Intangible assets consisted of the following: April 30, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,107.5 $ 317.9 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 389.4 1,061.9 354.0 15 Technology 513.3 336.6 504.1 317.5 12 Trademarks 210.4 69.9 209.6 62.4 15 License and distribution rights and other 50.7 25.8 50.7 23.8 10 2,943.8 $ 1,139.6 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,139.6 1,044.7 Intangible assets with definite lives, net 1,804.2 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,815.0 $ 1,885.1 (1) Intangible assets with indefinite lives include technology and trademarks. Balances include foreign currency translation adjustments. As of April 30, 2023, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2023 $ 92.5 2024 181.2 2025 171.3 2026 163.7 2027 148.8 Thereafter 1,046.7 Total remaining amortization for intangible assets with definite lives $ 1,804.2 There was no impairment of intangible assets recorded in the six months ended April 30, 2023.

Financing Arrangements

Financing Arrangements	6 Months Ended
	Apr. 30, 2023
Debt Disclosure [Abstract]
Financing Arrangements	Note 5. Financing Arrangements The Company had outstanding debt as follows: (In millions) April 30, 2023 October 31, 2022 Overdraft and other credit facilities $ 58.3 $ 57.7 Term loans — 338.0 Short-term debt, excluding financing leases 58.3 395.7 Financing lease liabilities 16.2 16.9 Short-term debt $ 74.5 $ 412.6 Revolving credit $ 215.0 $ — Term loans 2,350.0 2,350.0 Other 0.1 0.2 Less: unamortized debt issuance cost (2.7) (3.1) Long-term debt, excluding financing leases 2,562.4 2,347.1 Financing lease liabilities 3.3 3.7 Long-term debt $ 2,565.7 $ 2,350.8 Total debt $ 2,640.2 $ 2,763.4 Additional information regarding our indebtedness is included in our notes to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022, which was filed with the Securities and Exchange Commission on December 9, 2022. The carrying value of the Company's revolving credit facility and term loans approximates fair value based on current market rates (Level 2). As of April 30, 2023, the Company was in compliance with all debt covenants. On February 1, 2023, the Company amended its credit agreements to transition the interest rates applicable to the loans denominated in U.S. Dollars from LIBOR to SOFR, as defined in the credit agreements. 2021 Term Loan Agreement On December 17, 2021, the Company entered into a Term Loan Agreement (the 2021 Credit Agreement) by and among the Company, the lenders from time to time party thereto, and PNC Bank, National Association, as administrative agent. The 2021 Credit Agreement provides for a term loan facility (the 2021 Term Loan Facility) in an aggregate principal amount of $1.5 billion, which, unless terminated earlier, matures on December 17, 2026. On April 30, 2023, the Company had $1.5 billion outstanding under the 2021 Term Loan Facility and the weighted average interest rate was 5.91%. 2021 364-Day Term Loan Agreement On November 2, 2021, the Company entered into a 364-day, $840.0 million, term loan agreement by and among the Company, the lenders party thereto and The Bank of Nova Scotia, as administrative agent, which matured on November 1, 2022. The Company used part of the funds to partially repay outstanding borrowings under the 2020 Revolving Credit Facility and for general corporate purposes. The loan was fully repaid by the maturity date. 2020 Revolving Credit and Term Loan Agreement 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. The Company has an uncommitted option to increase the revolving credit facility or establish a new term loan in an aggregate amount up to $1.605 billion.

Income Taxes

Income Taxes	6 Months Ended
	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 6. Income Taxes The effective tax rates for the three months ended April 30, 2023, and April 30, 2022, were 39.3% and 22.7%, respectively. The effective tax rates for the six months ended April 30, 2023, and April 30, 2022, were 33.7% and 22.3%, respectively. The increases were primarily due to changes in the geographic composition of pre-tax earnings, an increase in the UK statutory tax rate from 19% to 25%, and capitalization of research and experimental expenditures for fiscal 2023 as required by the 2017 Tax Cuts and Jobs Act.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Apr. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 7. Earnings Per Share Periods Ended April 30, Three Months Six Months (In millions, except per share amounts) 2023 2022 2023 2022 Net income $ 39.8 $ 126.6 $ 124.4 $ 221.8 Basic: Weighted average common shares 49.5 49.3 49.4 49.4 Basic earnings per share $ 0.80 $ 2.57 $ 2.52 $ 4.49 Diluted: Weighted average common shares 49.5 49.3 49.4 49.4 Effect of dilutive stock plans 0.3 0.4 0.3 0.4 Diluted weighted average common shares 49.8 49.7 49.7 49.8 Diluted earnings per share $ 0.80 $ 2.55 $ 2.50 $ 4.45 The following table sets forth stock options to purchase our common stock that were not included in the diluted earnings per share calculation because their effect would have been antidilutive for the periods presented: Periods Ended April 30, Three Months Six Months (In thousands, except exercise prices) 2023 2022 2023 2022 Stock option shares excluded 313 224 313 224 Exercise prices $300.12 - $406.17 $345.74 - $406.17 $300.12 - $406.17 $345.74 - $406.17 Restricted stock units excluded 62 12 67 11

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 8. Share-Based Compensation The Company has several stock plans that are described in the Company’s Annual Report on Form 10‑K for the fiscal year ended October 31, 2022. Compensation expense and the related income tax benefit recognized in our Consolidated Condensed Statements of Income and Comprehensive Income for share-based awards, including the Employee Stock Purchase Plan, were as follows: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Selling, general and administrative expense $ 13.4 $ 11.3 $ 27.8 $ 22.8 Cost of sales 0.9 1.0 2.0 2.3 Research and development expense 0.8 0.7 1.6 1.5 Total share-based compensation expense $ 15.1 $ 13.0 $ 31.4 $ 26.6 Related income tax benefit $ 1.6 $ 1.1 $ 3.3 $ 2.7 2023 Long-Term Incentive Plan (2023 Plan) In March 2023, we received stockholder approval of the 2023 Plan, which replaces the 2007 Long-Term Incentive Plan (2007 Plan). The 2023 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 up to 1,365,000 shares in the form of specified equity awards including stock options, restricted stock units (RSUs) and performance share units (PSUs), subject to adjustment for future stock splits, stock dividends, expirations, forfeitures, and similar events. In addition, the 2023 Plan includes any shares which were available for issuance under the 2007 Plan at the time of stockholder approval of this plan. The 2023 Plan provides for awards of stock options, RSUs and PSUs on substantially the same terms as the 2007 Plan, described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2022. As of April 30, 2023, 1,371,164 shares remained available under the 2023 Plan for future grants. The amount of available shares includes shares which may be distributed under performance shares.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Apr. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 9. Stockholders' Equity Analysis of Changes in Accumulated Other Comprehensive Loss: (In millions) Foreign Currency Translation Adjustment Minimum Pension Liability Derivative Instruments Total Balance at October 31, 2021 $ (320.3) $ (34.1) $ 13.1 $ (341.3) Gross change in value (145.9) — 69.6 (76.3) Tax effect — — (16.9) (16.9) Balance at April 30, 2022 $ (466.2) $ (34.1) $ 65.8 $ (434.5) Balance at October 31, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 69.5 — (35.0) 34.5 Tax effect — — 8.5 8.5 Balance at April 30, 2023 $ (485.5) $ (6.2) $ 67.9 $ (423.8) Share Repurchases In December 2011, the Company's Board of Directors authorized the 2012 Share Repurchase Program (2012 Program) and through subsequent amendments, the most recent being in March 2017, the total repurchase authorization was increased from $500.0 million to $1.0 billion of the Company's common stock. As of April 30, 2023, $256.4 million remains authorized for repurchase under the 2012 Program. During the three and six months ended April 30, 2023, there were no share repurchases under the 2012 Program. During the three months ended April 30, 2022, there were no share repurchases under the 2012 Program. During the six months ended April 30, 2022, the Company repurchased 191.2 thousand shares of its common stock for $78.5 million, at an average purchase price of $410.41 per share. Dividends The Company paid a semiannual dividend of approximately $1.5 million or 3 cents per share, on February 10, 2023, to stockholders of record on January 23, 2023. The Company paid a semiannual dividend of approximately $1.5 million or 3 cents per share, on February 9, 2022, to stockholders of record on January 21, 2022.

Contingencies

Contingencies	6 Months Ended
	Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 10. Contingencies 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

Business Segment Information	6 Months Ended
	Apr. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	Note 11. Business Segment Information The following tables present revenue and other financial information by reportable segment: Segment information: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 CooperVision net sales by category: Toric lens $ 206.3 $ 185.6 $ 396.1 $ 367.8 Multifocal lens 74.1 66.4 145.9 132.2 Single-use sphere lens 165.4 161.1 333.7 328.1 Non single-use sphere, other 143.5 140.7 294.9 287.1 Total CooperVision net sales $ 589.3 $ 553.8 $ 1,170.6 $ 1,115.2 CooperSurgical net sales by category: Office and surgical $ 163.0 $ 161.6 $ 328.2 $ 290.5 Fertility 125.1 114.4 237.1 211.2 CooperSurgical net sales 288.1 276.0 565.3 501.7 Total net sales $ 877.4 $ 829.8 $ 1,735.9 $ 1,616.9 Operating income (loss): CooperVision $ 137.9 $ 135.4 $ 298.0 $ 262.8 CooperSurgical (24.3) 10.9 (18.5) 26.6 Corporate (17.3) (13.6) (33.7) (25.8) Total operating income 96.3 132.7 245.8 263.6 Interest expense 26.1 10.8 52.2 17.4 Other expense, net 4.6 (41.8) 5.9 (39.4) Income before income taxes $ 65.6 $ 163.7 $ 187.7 $ 285.6 (In millions) April 30, 2023 October 31, 2022 Total identifiable assets: CooperVision $ 6,970.9 $ 6,778.9 CooperSurgical 4,337.0 4,407.8 Corporate 231.6 305.6 Total $ 11,539.5 $ 11,492.3 Geographic information: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Net sales to unaffiliated customers by country of domicile: United States $ 443.1 $ 418.9 $ 877.9 $ 784.2 Europe 249.5 243.2 497.7 493.5 Rest of world 184.8 167.7 360.3 339.2 Total $ 877.4 $ 829.8 $ 1,735.9 $ 1,616.9 (In millions) April 30, 2023 October 31, 2022 Net property, plant and equipment by country of domicile: United States $ 893.7 $ 856.1 Europe 329.7 310.8 Rest of world 266.4 266.0 Total $ 1,489.8 $ 1,432.9

Financial Derivatives and Hedgi

Financial Derivatives and Hedging	6 Months Ended
	Apr. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivatives and Hedging	Note 12. Financial Derivatives and Hedging As of April 30, 2023, the Company has six interest rate swap contracts that have a total notional amount of $1.3 billion and remaining maturities of four years or less. The Company did not have any cross-currency swaps or foreign currency forward contracts as of April 30, 2023. The interest rate swap contracts are fair valued by netting discounted future fixed cash payments and the discounted expected variable cash receipts, which are estimated based on observable market interest rate curves (Level 2). The fair value of derivative instruments are classified in "Other non-current assets" on our Consolidated Condensed Balance Sheets. The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying Consolidated Statements of Income and Comprehensive Income: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest (income) expense $ (9.9) $ 1.4 $ (18.2) $ 3.3 The Company expects th at $41.1 million rec orded as a component of "Accumulated other comprehensive loss" will be realized in the Consolidated Statements of Income and Comprehensive Income over the next twelve months and the amount will vary depending on prevailing interest rates. The cumulative pre-tax impact of the gain on derivatives designated for hedge accounting is recognized in "Accumulated other comprehensive loss". The following table details the changes in the cumulative pre-tax impact of the gain on derivatives designated for hedge accounting: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Beginning balance gain $ 96.7 $ 34.8 $ 124.5 $ 17.2 Amount recognized in accumulated other comprehensive loss on interest rate swap contracts, gross 2.7 50.6 (16.8) 66.3 Amount reclassified from accumulated other comprehensive loss into earnings, gross (9.9) 1.4 (18.2) 3.3 Ending balance gain $ 89.5 $ 86.8 $ 89.5 $ 86.8 The amount recognized in other comprehensive income on interest rate swap contracts was $2.0 million and $(12.7) million, net of tax, for the three and six months ended April 30, 2023, respectively, and $38.3 million and $50.2 million, net of tax, for the three and six months ended April 30, 2022, respectively.

General (Policies)

General (Policies)	6 Months Ended
	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Estimates	Estimates The preparation of Consolidated Condensed 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. 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.
Accounting Pronouncements Recently Adopted	Accounting Pronouncements Recently Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . This update requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This standard is effective for fiscal years beginning after December 15, 2021, and should be applied either prospectively or retrospectively. Early adoption is permitted. The Company adopted this guidance prospectively on November 1, 2022, and it did not have a material impact on the Consolidated Condensed Financial Statements. 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 and subsequent amendment to the initial guidance: ASU 2021-01, Reference Rate Reform (Topic 848): Scope (collectively, “Topic 848”). Topic 848 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. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . ASU 2022-06 defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. Effective February 1, 2023, the Company transitioned its credit agreements from LIBOR to the Secured Overnight Financing Rate ("SOFR"). The Company adopted this guidance prospectively on February 1, 2023, and it did not have a material impact on the Consolidated Condensed Financial Statements. No other recently issued accounting pronouncements had or are expected to have a material impact on the Company's Consolidated Condensed Financial Statements.
Contingencies	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.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Apr. 30, 2023
Inventory Disclosure [Abstract]
Schedule of inventories	(In millions) April 30, 2023 October 31, 2022 Raw materials $ 206.4 $ 173.7 Work-in-process 17.6 15.2 Finished goods 475.0 439.8 Total inventories $ 699.0 $ 628.7

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Intangible assets consisted of the following: April 30, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,107.5 $ 317.9 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 389.4 1,061.9 354.0 15 Technology 513.3 336.6 504.1 317.5 12 Trademarks 210.4 69.9 209.6 62.4 15 License and distribution rights and other 50.7 25.8 50.7 23.8 10 2,943.8 $ 1,139.6 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,139.6 1,044.7 Intangible assets with definite lives, net 1,804.2 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,815.0 $ 1,885.1 (1) Intangible assets with indefinite lives include technology and trademarks.
Schedule of indefinite-lived intangible assets	Intangible assets consisted of the following: April 30, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,107.5 $ 317.9 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 389.4 1,061.9 354.0 15 Technology 513.3 336.6 504.1 317.5 12 Trademarks 210.4 69.9 209.6 62.4 15 License and distribution rights and other 50.7 25.8 50.7 23.8 10 2,943.8 $ 1,139.6 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,139.6 1,044.7 Intangible assets with definite lives, net 1,804.2 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,815.0 $ 1,885.1 (1) Intangible assets with indefinite lives include technology and trademarks.
Schedule of remaining amortization expenses for intangible assets with definite lives	As of April 30, 2023, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2023 $ 92.5 2024 181.2 2025 171.3 2026 163.7 2027 148.8 Thereafter 1,046.7 Total remaining amortization for intangible assets with definite lives $ 1,804.2

Financing Arrangements (Tables)

Financing Arrangements (Tables)	6 Months Ended
	Apr. 30, 2023
Debt Disclosure [Abstract]
Schedule of debt	The Company had outstanding debt as follows: (In millions) April 30, 2023 October 31, 2022 Overdraft and other credit facilities $ 58.3 $ 57.7 Term loans — 338.0 Short-term debt, excluding financing leases 58.3 395.7 Financing lease liabilities 16.2 16.9 Short-term debt $ 74.5 $ 412.6 Revolving credit $ 215.0 $ — Term loans 2,350.0 2,350.0 Other 0.1 0.2 Less: unamortized debt issuance cost (2.7) (3.1) Long-term debt, excluding financing leases 2,562.4 2,347.1 Financing lease liabilities 3.3 3.7 Long-term debt $ 2,565.7 $ 2,350.8 Total debt $ 2,640.2 $ 2,763.4

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Apr. 30, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share	Periods Ended April 30, Three Months Six Months (In millions, except per share amounts) 2023 2022 2023 2022 Net income $ 39.8 $ 126.6 $ 124.4 $ 221.8 Basic: Weighted average common shares 49.5 49.3 49.4 49.4 Basic earnings per share $ 0.80 $ 2.57 $ 2.52 $ 4.49 Diluted: Weighted average common shares 49.5 49.3 49.4 49.4 Effect of dilutive stock plans 0.3 0.4 0.3 0.4 Diluted weighted average common shares 49.8 49.7 49.7 49.8 Diluted earnings per share $ 0.80 $ 2.55 $ 2.50 $ 4.45
Schedule of stock options and restricted stock units that were not included in the diluted earnings per share calculation	The following table sets forth stock options to purchase our common stock that were not included in the diluted earnings per share calculation because their effect would have been antidilutive for the periods presented: Periods Ended April 30, Three Months Six Months (In thousands, except exercise prices) 2023 2022 2023 2022 Stock option shares excluded 313 224 313 224 Exercise prices $300.12 - $406.17 $345.74 - $406.17 $300.12 - $406.17 $345.74 - $406.17 Restricted stock units excluded 62 12 67 11

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of compensation expense and related income tax benefit for share-based awards	Compensation expense and the related income tax benefit recognized in our Consolidated Condensed Statements of Income and Comprehensive Income for share-based awards, including the Employee Stock Purchase Plan, were as follows: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Selling, general and administrative expense $ 13.4 $ 11.3 $ 27.8 $ 22.8 Cost of sales 0.9 1.0 2.0 2.3 Research and development expense 0.8 0.7 1.6 1.5 Total share-based compensation expense $ 15.1 $ 13.0 $ 31.4 $ 26.6 Related income tax benefit $ 1.6 $ 1.1 $ 3.3 $ 2.7

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Apr. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of changes in accumulated other comprehensive income	Analysis of Changes in Accumulated Other Comprehensive Loss: (In millions) Foreign Currency Translation Adjustment Minimum Pension Liability Derivative Instruments Total Balance at October 31, 2021 $ (320.3) $ (34.1) $ 13.1 $ (341.3) Gross change in value (145.9) — 69.6 (76.3) Tax effect — — (16.9) (16.9) Balance at April 30, 2022 $ (466.2) $ (34.1) $ 65.8 $ (434.5) Balance at October 31, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 69.5 — (35.0) 34.5 Tax effect — — 8.5 8.5 Balance at April 30, 2023 $ (485.5) $ (6.2) $ 67.9 $ (423.8) Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Beginning balance gain $ 96.7 $ 34.8 $ 124.5 $ 17.2 Amount recognized in accumulated other comprehensive loss on interest rate swap contracts, gross 2.7 50.6 (16.8) 66.3 Amount reclassified from accumulated other comprehensive loss into earnings, gross (9.9) 1.4 (18.2) 3.3 Ending balance gain $ 89.5 $ 86.8 $ 89.5 $ 86.8

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Apr. 30, 2023
Segment Reporting [Abstract]
Schedule of segment information	Segment information: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 CooperVision net sales by category: Toric lens $ 206.3 $ 185.6 $ 396.1 $ 367.8 Multifocal lens 74.1 66.4 145.9 132.2 Single-use sphere lens 165.4 161.1 333.7 328.1 Non single-use sphere, other 143.5 140.7 294.9 287.1 Total CooperVision net sales $ 589.3 $ 553.8 $ 1,170.6 $ 1,115.2 CooperSurgical net sales by category: Office and surgical $ 163.0 $ 161.6 $ 328.2 $ 290.5 Fertility 125.1 114.4 237.1 211.2 CooperSurgical net sales 288.1 276.0 565.3 501.7 Total net sales $ 877.4 $ 829.8 $ 1,735.9 $ 1,616.9 Operating income (loss): CooperVision $ 137.9 $ 135.4 $ 298.0 $ 262.8 CooperSurgical (24.3) 10.9 (18.5) 26.6 Corporate (17.3) (13.6) (33.7) (25.8) Total operating income 96.3 132.7 245.8 263.6 Interest expense 26.1 10.8 52.2 17.4 Other expense, net 4.6 (41.8) 5.9 (39.4) Income before income taxes $ 65.6 $ 163.7 $ 187.7 $ 285.6
Schedule of identifiable assets by segment	(In millions) April 30, 2023 October 31, 2022 Total identifiable assets: CooperVision $ 6,970.9 $ 6,778.9 CooperSurgical 4,337.0 4,407.8 Corporate 231.6 305.6 Total $ 11,539.5 $ 11,492.3
Schedule of net sales to unaffiliated customers by country of domicile	Geographic information: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Net sales to unaffiliated customers by country of domicile: United States $ 443.1 $ 418.9 $ 877.9 $ 784.2 Europe 249.5 243.2 497.7 493.5 Rest of world 184.8 167.7 360.3 339.2 Total $ 877.4 $ 829.8 $ 1,735.9 $ 1,616.9
Schedule of net property, plant and equipment by country of domicile	(In millions) April 30, 2023 October 31, 2022 Net property, plant and equipment by country of domicile: United States $ 893.7 $ 856.1 Europe 329.7 310.8 Rest of world 266.4 266.0 Total $ 1,489.8 $ 1,432.9

Financial Derivatives and Hed_2

Financial Derivatives and Hedging (Tables)	6 Months Ended
	Apr. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 and Comprehensive Income: Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest (income) expense $ (9.9) $ 1.4 $ (18.2) $ 3.3
Schedule of changes in accumulated other comprehensive income	Analysis of Changes in Accumulated Other Comprehensive Loss: (In millions) Foreign Currency Translation Adjustment Minimum Pension Liability Derivative Instruments Total Balance at October 31, 2021 $ (320.3) $ (34.1) $ 13.1 $ (341.3) Gross change in value (145.9) — 69.6 (76.3) Tax effect — — (16.9) (16.9) Balance at April 30, 2022 $ (466.2) $ (34.1) $ 65.8 $ (434.5) Balance at October 31, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 69.5 — (35.0) 34.5 Tax effect — — 8.5 8.5 Balance at April 30, 2023 $ (485.5) $ (6.2) $ 67.9 $ (423.8) Periods Ended April 30, Three Months Six Months (In millions) 2023 2022 2023 2022 Beginning balance gain $ 96.7 $ 34.8 $ 124.5 $ 17.2 Amount recognized in accumulated other comprehensive loss on interest rate swap contracts, gross 2.7 50.6 (16.8) 66.3 Amount reclassified from accumulated other comprehensive loss into earnings, gross (9.9) 1.4 (18.2) 3.3 Ending balance gain $ 89.5 $ 86.8 $ 89.5 $ 86.8

Acquisitions and Joint Venture

Acquisitions and Joint Venture - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Nov. 01, 2022	Apr. 06, 2022	Mar. 31, 2022	Apr. 30, 2023	Apr. 30, 2023	Apr. 30, 2022	Oct. 31, 2022	Jan. 19, 2021
Business Acquisition [Line Items]
Goodwill				$ 3,660,000,000	$ 3,660,000,000		$ 3,609,700,000
Accrual for acquisition termination fee				$ 45,000,000	45,000,000	$ 0
Proceeds from sale of interest in a subsidiary			$ 52,100,000		0	52,600,000
Payments to form joint venture			10,000,000
Equity method investments			$ 90,000,000
Equity method investment realized gain							56,900,000
Decrease in contingent consideration liability					31,800,000	$ 0
SightGlass Vision, Inc.
Business Acquisition [Line Items]
Equity method investment, ownership percentage			50%
Essilor International SAS
Business Acquisition [Line Items]
Payments to form joint venture			$ 10,000,000
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products
Business Acquisition [Line Items]
Aggregate consideration	$ 33,000,000
Goodwill	13,100,000
Goodwill, expected tax deductible amount	0
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles	12,600,000
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products | Technology
Business Acquisition [Line Items]
Finite-lived intangibles	$ 7,600,000
Cook Medicals Reproductive Health Business
Business Acquisition [Line Items]
Aggregate consideration		$ 875,000,000
Payments to acquire business		675,000,000
Payables incurred in acquisition		200,000,000
Cook Medicals Reproductive Health Business | Payables First Installment
Business Acquisition [Line Items]
Payables incurred in acquisition		50,000,000
Cook Medicals Reproductive Health Business | Payables Second Installment
Business Acquisition [Line Items]
Payables incurred in acquisition		50,000,000
Cook Medicals Reproductive Health Business | Payables Third Installment
Business Acquisition [Line Items]
Payables incurred in acquisition		50,000,000
Cook Medicals Reproductive Health Business | Payables Fourth Installment
Business Acquisition [Line Items]
Payables incurred in acquisition		$ 50,000,000
Privately-Held Medical Device Company, Spectacle Lenses, Portion Attributable To Former Equity Interest Owners
Business Acquisition [Line Items]
Undiscounted range of the contingent consideration, minimum								$ 0
Undiscounted range of the contingent consideration, maximum								$ 139,100,000
Payment to settle former equity interest owners			$ 42,900,000
Net gains recognized							$ 12,200,000
Decrease in contingent consideration liability					$ 31,800,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 206.4	$ 173.7
Work-in-process	17.6	15.2
Finished goods	475	439.8
Total inventories	$ 699	$ 628.7

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2023	Oct. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 2,943.8	$ 2,919
Accumulated Amortization	1,139.6	1,044.7
Intangible assets with definite lives, net	$ 1,804.2	1,874.3
Weighted Average Amortization Period (in years)	16 years
Intangible assets with indefinite lives, net	$ 10.8	10.8
Total other intangibles, net	1,815	1,885.1
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	1,107.5	1,092.7
Accumulated Amortization	$ 317.9	287
Weighted Average Amortization Period (in years)	19 years
Composite intangible asset
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 1,061.9	1,061.9
Accumulated Amortization	$ 389.4	354
Weighted Average Amortization Period (in years)	15 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 513.3	504.1
Accumulated Amortization	$ 336.6	317.5
Weighted Average Amortization Period (in years)	12 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 210.4	209.6
Accumulated Amortization	$ 69.9	62.4
Weighted Average Amortization Period (in years)	15 years
License and distribution rights and other
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 50.7	50.7
Accumulated Amortization	$ 25.8	$ 23.8
Weighted Average Amortization Period (in years)	10 years

Intangible Assets - Remaining A

Intangible Assets - Remaining Amortization Expenses for Intangible Assets with Definite Lives (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 92.5
2024	181.2
2025	171.3
2026	163.7
2027	148.8
Thereafter	1,046.7
Intangible assets with definite lives, net	$ 1,804.2	$ 1,874.3

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details)	6 Months Ended
	Apr. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0

Financing Arrangements - Total

Financing Arrangements - Total Debt (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Short-term Debt
Short-term debt	$ 58.3	$ 395.7
Financing lease liabilities	$ 16.2	16.9
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Short-term debt
Short-term debt	$ 74.5	412.6
Long-term Debt
Less: unamortized debt issuance cost	(2.7)	(3.1)
Long-term debt, excluding financing leases	2,562.4	2,347.1
Financing lease liabilities	$ 3.3	3.7
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt
Long-term debt	$ 2,565.7	2,350.8
Total debt	2,640.2	2,763.4
Term loans
Long-term Debt
Long-term debt, gross	2,350	2,350
Other
Long-term Debt
Long-term debt, gross	0.1	0.2
Revolving Credit Facility | Line of Credit
Long-term Debt
Long-term debt, gross	215	0
Overdraft and other credit facilities
Short-term Debt
Short-term debt	58.3	57.7
Term loans
Short-term Debt
Short-term debt	$ 0	$ 338

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Nov. 02, 2021	Apr. 30, 2023	Dec. 17, 2021	Apr. 01, 2020
Term Loan Agreement 2021, 364 Day | Term loans
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Debt term	364 days
Debt instrument, face amount	$ 840,000,000
Line of Credit | Term Loan Facility 2021
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Aggregate principal amount			$ 1,500,000,000
Debt outstanding		$ 1,500,000,000
Interest rate		5.91%
Revolving Credit Facility | Credit Agreement 2020 | Line of Credit
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Aggregate principal amount				$ 1,290,000,000
Debt outstanding		$ 215,000,000
Term Loan Facility 2020 | Credit Agreement 2020 | Line of Credit
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Aggregate principal amount				850,000,000
Debt outstanding		$ 850,000,000
Revolving Credit Facility And Term Loan Facility 2020 | Credit Agreement 2020 | Line of Credit
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Interest rate		5.90%
Potential additional borrowing capacity				$ 1,605,000,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	39.30%	22.70%	33.70%	22.30%

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2022	Jan. 31, 2022	Apr. 30, 2023	Apr. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 39.8	$ 84.6	$ 126.6	$ 95.3	$ 124.4	$ 221.8
Basic:
Weighted average common shares (in shares)	49.5		49.3		49.4	49.4
Basic earnings per share (in dollars per share)	$ 0.80		$ 2.57		$ 2.52	$ 4.49
Diluted:
Weighted average common shares (in shares)	49.5		49.3		49.4	49.4
Effect of dilutive stock plans (in shares)	0.3		0.4		0.3	0.4
Diluted weighted average common shares (in shares)	49.8		49.7		49.7	49.8
Diluted earnings per share (in dollars per share)	$ 0.80		$ 2.55		$ 2.50	$ 4.45

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Stock Options and Restricted Stock Units that were not Included in the Diluted Earnings Per Share Calculation (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise prices, lower limit	$ 300.12	$ 345.74	$ 300.12	$ 345.74
Exercise prices, upper limit	$ 406.17	$ 406.17	$ 406.17	$ 406.17
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of stock option shares and restricted stock units excluded (in shares)	313	224	313	224
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of stock option shares and restricted stock units excluded (in shares)	62,000	12	67,000	11

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 15.1	$ 13	$ 31.4	$ 26.6
Related income tax benefit	1.6	1.1	3.3	2.7
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	13.4	11.3	27.8	22.8
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	0.9	1	2	2.3
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 0.8	$ 0.7	$ 1.6	$ 1.5

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - 2023 Long-Term Incentive Plan	Mar. 31, 2023 director shares	Apr. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of non-employee directors | director	2
Number of shares authorized to be granted (in shares)	1,365,000
Shares remaining for future grant (in shares)		1,371,164

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) Income (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 7,174.7	$ 6,942
Gross change in value	34.5	(76.3)
Tax effect	8.5	(16.9)
Ending balance	7,378	7,013.8
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(555)	(320.3)
Gross change in value	69.5	(145.9)
Tax effect	0	0
Ending balance	(485.5)	(466.2)
Minimum Pension Liability
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(6.2)	(34.1)
Gross change in value	0	0
Tax effect	0	0
Ending balance	(6.2)	(34.1)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	94.4	13.1
Gross change in value	(35)	69.6
Tax effect	8.5	(16.9)
Ending balance	67.9	65.8
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(466.8)	(341.3)
Ending balance	$ (423.8)	$ (434.5)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended				6 Months Ended
	Feb. 10, 2023	Feb. 09, 2022	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2022	Jan. 31, 2022	Apr. 30, 2023	Apr. 30, 2022	Mar. 31, 2017	Dec. 31, 2011
Stockholders' Equity Note [Abstract]
Share repurchase program, authorized amount for repurchase									$ 1,000	$ 500
Share repurchase program, remaining authorized amount for repurchase			$ 256.4				$ 256.4
Stock repurchase (in shares)			0		0		0	191,200
Treasury stock repurchase						$ 78.5		$ 78.5
Average repurchase price per share (in dollars per share)								$ 410.41
Dividends on common stock	$ 1.5	$ 1.5					$ 1.5	$ 1.5
Dividends on common stock (in dollars per share)	$ 0.03	$ 0.03		$ 0.03		$ 0.03

Business Segment Information -

Business Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Segment Reporting Information [Line Items]
Total net sales	$ 877.4	$ 829.8	$ 1,735.9	$ 1,616.9
Total operating income	96.3	132.7	245.8	263.6
Interest expense	26.1	10.8	52.2	17.4
Other expense, net	4.6	(41.8)	5.9	(39.4)
Income before income taxes	65.6	163.7	187.7	285.6
Operating Segments | CooperVision
Segment Reporting Information [Line Items]
Total net sales	589.3	553.8	1,170.6	1,115.2
Total operating income	137.9	135.4	298	262.8
Operating Segments | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	288.1	276	565.3	501.7
Total operating income	(24.3)	10.9	(18.5)	26.6
Operating Segments | Toric lens | CooperVision
Segment Reporting Information [Line Items]
Total net sales	206.3	185.6	396.1	367.8
Operating Segments | Multifocal lens | CooperVision
Segment Reporting Information [Line Items]
Total net sales	74.1	66.4	145.9	132.2
Operating Segments | Single-use sphere lens | CooperVision
Segment Reporting Information [Line Items]
Total net sales	165.4	161.1	333.7	328.1
Operating Segments | Non single-use sphere, other | CooperVision
Segment Reporting Information [Line Items]
Total net sales	143.5	140.7	294.9	287.1
Operating Segments | Office and surgical | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	163	161.6	328.2	290.5
Operating Segments | Fertility | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	125.1	114.4	237.1	211.2
Corporate
Segment Reporting Information [Line Items]
Total operating income	$ (17.3)	$ (13.6)	$ (33.7)	$ (25.8)

Business Segment Information _2

Business Segment Information - Schedule of Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 11,539.5	$ 11,492.3
Operating Segments | CooperVision
Segment Reporting Information [Line Items]
Total Identifiable assets	6,970.9	6,778.9
Operating Segments | CooperSurgical
Segment Reporting Information [Line Items]
Total Identifiable assets	4,337	4,407.8
Corporate
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 231.6	$ 305.6

Business Segment Information _3

Business Segment Information - Schedule of Net Sales to Unaffiliated Customers by Country of Domicile (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 877.4	$ 829.8	$ 1,735.9	$ 1,616.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	443.1	418.9	877.9	784.2
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	249.5	243.2	497.7	493.5
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 184.8	$ 167.7	$ 360.3	$ 339.2

Business Segment Information _4

Business Segment Information - Schedule of Net Property, Plant and Equipment By Country of Domicile (Details) - USD ($) $ in Millions	Apr. 30, 2023	Oct. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 1,489.8	$ 1,432.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	893.7	856.1
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	329.7	310.8
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 266.4	$ 266

Financial Derivatives and Hed_3

Financial Derivatives and Hedging - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023 USD ($) interest_rate_swap_contract	Apr. 30, 2022 USD ($)	Apr. 30, 2023 USD ($) interest_rate_swap_contract	Apr. 30, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative loss expected to be realized in earnings over the next twelve months			$ 41.1
Amount recognized in other comprehensive income on interest rate swaps contracts, net of tax	$ 2	$ 38.3	(12.7)	$ 50.2
Amount reclassified from other comprehensive income into earnings, net of tax	$ (7.5)	$ 1	$ (13.8)	$ 2.5
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate swap contracts held | interest_rate_swap_contract	6		6
Derivative notional amount	$ 1,300		$ 1,300
Interest rate swap contracts, contract term (or less)			4 years

Financial Derivatives and Hed_4

Financial Derivatives and Hedging - Schedule of Derivative Instruments Recognized in Condensed Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Interest (income) expense | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss recognized on derivatives within interest expense	$ (9.9)	$ 1.4	$ (18.2)	$ 3.3

Financial Derivatives and Hed_5

Financial Derivatives and Hedging - Schedule of Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	$ 7,335.7	$ 6,926.1	$ 7,174.7	$ 6,942
Ending balance	7,378	7,013.8	7,378	7,013.8
Accumulated Gain (Loss), Net, Cash Flow Hedge, Before Tax, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	96.7	34.8	124.5	17.2
Ending balance	89.5	86.8	89.5	86.8
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance			94.4	13.1
Amount recognized in accumulated other comprehensive loss on interest rate swap contracts, gross	2.7	50.6	(16.8)	66.3
Amount reclassified from accumulated other comprehensive loss into earnings, gross	(9.9)	1.4	(18.2)	3.3
Ending balance	$ 67.9	$ 65.8	$ 67.9	$ 65.8