The Cooper Companies, Inc. (COO) 10-Q 1 Mar 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jan. 31, 2024	Feb. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2024
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	NASDAQ
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		198,756,284
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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
		Jan. 31, 2024	Jan. 31, 2023
Income Statement [Abstract]
Net sales		$ 931.6	$ 858.5
Cost of sales		307.8	300
Gross profit		623.8	558.5
Selling, general and administrative expense		380.9	330.9
Research and development expense		39.5	31.6
Amortization of intangibles		50.3	46.5
Operating income		153.1	149.5
Interest expense		29.9	26.1
Other expense, net		3.2	1.3
Income before income taxes		120	122.1
Provision for income taxes (Note 6)		38.8	37.5
Net income		$ 81.2	$ 84.6
Earnings per share (Note 7):
Basic (in dollars per share)	[1]	$ 0.41	$ 0.43
Diluted (in dollars per share)	[1]	$ 0.41	$ 0.43
Number of shares used to compute earnings per share:
Basic (in shares)	[1]	198.4	197.5
Diluted (in shares)	[1]	199.9	198.7
Other comprehensive income, net of tax:
Cash flow hedges		$ (28)	$ (21)
Foreign currency translation adjustment		59.8	84
Comprehensive income		$ 113	$ 147.6
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions		Jan. 31, 2024	Oct. 31, 2023
Current assets:
Cash and cash equivalents		$ 135.2	$ 120.8
Trade accounts receivable, net of allowance for credit losses of $34.7 at January 31, 2024, and $31.3 at October 31, 2023		651	609.7
Inventories (Note 3)		747.5	735.6
Prepaid expense and other current assets		260.2	238.8
Total current assets		1,793.9	1,704.9
Property, plant and equipment, net		1,682.2	1,632.6
Goodwill		3,773.2	3,624.5
Other intangibles, net (Note 4)		1,848.1	1,710.3
Deferred tax assets		2,318.3	2,349.5
Other assets		616.9	637.1
Total assets		12,032.6	11,658.9
Current liabilities:
Short-term debt (Note 5)		46.1	45.4
Accounts payable		202.3	261.9
Employee compensation and benefits		178.7	174.8
Deferred revenue		122.4	123.6
Other current liabilities		415.4	363.3
Total current liabilities		964.9	969
Long-term debt (Note 5)		2,726.2	2,523.8
Deferred tax liabilities		90.4	101.5
Long-term tax payable		88.1	90.2
Deferred revenue		186.3	184.2
Other liabilities		281.4	239.2
Total liabilities		4,337.3	4,107.9
Contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $10 cents par value, 1.0 shares authorized, zero shares issued or outstanding	[1]	0	0
Common stock, $10 cents par value, 480.0 shares authorized, 216.4 issued and 198.7 outstanding at January 31, 2024, and 215.8 issued and 198.1 outstanding at October 31, 2023	[1]	21.6	21.6
Additional paid-in capital	[1]	1,847.4	1,817.2
Accumulated other comprehensive loss	[1]	(422)	(453.8)
Retained earnings	[1]	6,957.3	6,876.1
Treasury stock at cost: 17.7 shares at January 31, 2024, and 17.7 shares at October 31, 2023	[1]	(709.2)	(710.3)
Total Cooper stockholders’ equity	[1]	7,695.1	7,550.8
Noncontrolling interests	[1]	0.2	0.2
Stockholders’ equity (Note 9)	[2]	7,695.3	7,551
Total liabilities and stockholders’ equity		$ 12,032.6	$ 11,658.9
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information. All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) $ in Millions	Jan. 31, 2024 USD ($) $ / shares shares	Oct. 31, 2023 USD ($) $ / shares shares
Trade accounts receivable, allowance for doubtful accounts | $	$ 34.7	$ 31.3
Preferred stock, par value (in dollars per share) | $ / shares	$ 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) | $ / shares	$ 0.10	$ 0.10
Common stock, authorized (in shares)	480,000,000	480,000,000
Common stock, issued (in shares)	216,400,000	215,800,000
Common stock, outstanding (in shares)	198,700,000	198,100,000
Treasury stock (in shares)	17,700,000	17,700,000

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders' Equity - USD ($) shares in Millions, $ 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, 2022	[1]		197.4
Beginning balance at Oct. 31, 2022	[1]	$ 7,174.7	$ 19.7		$ (714.5)		$ 1.8	$ 1,749.4	$ (466.8)	$ 6,584.9	$ 0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2022	[1]				17.8
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)			0.4		1.2
Issuance of common stock for stock plans, net and employee stock purchase plan		(1.3)						(2.5)
Dividends on common stock ($0.00 per share)		(1.5)								(1.5)
Share-based compensation expense		16.2						16.2
Common stock, ending balance (in shares) at Jan. 31, 2023	[1]		197.8
Ending balance at Jan. 31, 2023	[1]	$ 7,335.7	$ 19.7		$ (713.3)		1.8	1,763.1	(403.8)	6,668	0.2
Treasury stock, ending balance (in shares) at Jan. 31, 2023	[1]				17.8
Common stock, beginning balance (in shares) at Oct. 31, 2023		198.1	198.1	[1]
Beginning balance at Oct. 31, 2023	[1]	$ 7,551	$ 19.8		$ (710.3)		1.8	1,817.2	(453.8)	6,876.1	0.2
Treasury stock, beginning balance (in shares) at Oct. 31, 2023		17.7			17.7	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		$ 81.2								81.2
Other comprehensive income (loss), net of tax		31.8							31.8
Issuance of common stock for stock plans, net and employee stock purchase plan (in shares)			0.6
Issuance of common stock for stock plans, net and employee stock purchase plan		7.7			$ 1.1			6.6
Share-based compensation expense		$ 23.6						23.6
Common stock, ending balance (in shares) at Jan. 31, 2024		198.7	198.7	[1]
Ending balance at Jan. 31, 2024	[1]	$ 7,695.3	$ 19.8		$ (709.2)		$ 1.8	$ 1,847.4	$ (422)	$ 6,957.3	$ 0.2
Treasury stock, ending balance (in shares) at Jan. 31, 2024		17.7			17.7	[1]
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders' Equity (Parenthetical)			3 Months Ended
	Feb. 16, 2024	Feb. 10, 2023 $ / shares	Jan. 31, 2023 $ / shares
Dividends on common stock (in dollars per share)		$ 0.03	$ 0.03
Subsequent Event
Stock split, conversion ratio	4

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Cash flows from operating activities:
Net income	$ 81.2	$ 84.6
Depreciation and amortization	96.8	89.7
Change in fair value of contingent consideration	0	(31.8)
Net changes in operating capital	(109.6)	(28)
Other non-cash items	54.3	52.1
Net cash provided by operating activities	122.7	166.6
Cash flows from investing activities:
Purchases of property, plant and equipment	(118.1)	(83)
Acquisitions of businesses and assets, net of cash acquired, and other	(206)	(30.3)
Net cash used in investing activities	(324.1)	(113.3)
Cash flows from financing activities:
Proceeds from long-term debt, net of issuance costs	795.1	702
Repayments of long-term debt	(593.1)	(426.3)
Net proceeds from (repayments of) short-term debt	0.2	(351.7)
Net proceeds (payments) related to share-based compensation awards	8.2	(3.4)
Issuance of common stock for employee stock purchase plan	1.9	1.8
Net cash provided by (used in) financing activities	212.3	(77.6)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3.5	4.2
Net increase (decrease) in cash, cash equivalents, and restricted cash	14.4	(20.1)
Cash, cash equivalents, and restricted cash at beginning of period	120.9	138.6
Cash, cash equivalents, and restricted cash at end of period	135.3	118.5
Reconciliation of cash flow information:
Cash and cash equivalents	135.2	118.2
Restricted cash included in other current assets	0.1	0.3
Total cash, cash equivalents, and restricted cash	$ 135.3	$ 118.5

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Income and Comprehensive Income (Parenthetical)	Feb. 16, 2024
Subsequent Event
Stock split, conversion ratio	4

General

General	3 Months Ended
	Jan. 31, 2024
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, 2023. 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 1 described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023. 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. Stock Split On February 16, 2024, the Company effected a four-for-one stock split of its outstanding shares of common stock. The par value of the common stock remains at $0.10 cents per share. Accordingly, an amount equal to the par value of the increased shares resulting from the stock split was reclassified from "Additional paid-in capital" to "Common stock". All share and per share information has been retroactively adjusted to reflect the stock split for all periods presented. Accounting Pronouncements Issued But Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires public entities to disclose specific categories in the effective tax rate reconciliation and additional information for reconciling items that exceed a quantitative threshold. The guidance also requires all disaggregated information pertaining to taxes paid, net of refunds received, for federal, state and foreign income taxes. The new guidance is effective for fiscal years beginning after December 15, 2024, with the option to apply prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact that the adoption of this guidance will have on our consolidated financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

Acquisitions and Joint Venture

Acquisitions and Joint Venture	3 Months Ended
	Jan. 31, 2024
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. On November 1, 2023, CooperSurgical completed the acquisition of select Cook Medical assets focused primarily on the obstetrics, doppler monitoring, and gynecology surgery markets. The purchase price of the acquisition was $300.0 million, with $200.0 million paid at closing and two cash payments of $50.0 million each to be paid on November 1, 2024 and November 1, 2025. The present value of the acquisition purchase price was $291.6 million, which is included in the Company's balance sheet. Based upon preliminary valuations, assets acquired primarily comprised of $157.9 million of technologies, $26.6 million of customer relationship related intangibles, and $107.2 million of goodwill. The goodwill is deductible for tax purposes. The purchase price allocation is preliminary, and the Company is in the process of finalizing purchase accounting information. Joint Venture CooperVision and Essilor International SAS (Essilor) executed a Contribution Agreement and a Stock Purchase Agreement (the “Agreements”) in March 2022 to form a joint venture in SightGlass Vision, Inc. (SGV), which is a medical device company developing spectacle lenses for myopia management. Essilor paid CooperVision $52.1 million in exchange for a 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. Prior to March 2022, CooperVision owned 100% of SGV. Further information regarding the joint venture is included in the notes to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023.

Inventories

Inventories	3 Months Ended
	Jan. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Note 3. Inventories (In millions) January 31, 2024 October 31, 2023 Raw materials $ 208.7 $ 207.3 Work-in-process 18.8 19.0 Finished goods 520.0 509.3 Total inventories $ 747.5 $ 735.6

Intangible Assets

Intangible Assets	3 Months Ended
	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 4. Intangible Assets Intangible assets consisted of the following: January 31, 2024 October 31, 2023 (In millions) Gross Accumulated Gross Accumulated Weighted-Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,125.6 $ 358.3 $ 1,099.2 $ 345.8 19 Composite intangible asset 1,061.9 442.5 1,061.9 424.8 15 Technology 652.7 348.3 494.5 335.4 11 Trademarks 204.5 79.8 208.9 81.1 15 License and distribution rights and other 47.8 24.8 51.6 28.0 11 3,092.5 $ 1,253.7 2,916.1 $ 1,215.1 16 Less: accumulated amortization and translation 1,253.7 1,215.1 Intangible assets with definite lives, net 1,838.8 1,701.0 Intangible assets with indefinite lives, net (1) 9.3 9.3 Total other intangibles, net $ 1,848.1 $ 1,710.3 (1) Intangible assets with indefinite lives include technology and trademarks. Balances include foreign currency translation adjustments. As of January 31, 2024, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2024 $ 147.7 2025 187.9 2026 180.3 2027 165.9 2028 161.4 Thereafter 995.6 Total remaining amortization for intangible assets with definite lives $ 1,838.8

Financing Arrangements

Financing Arrangements	3 Months Ended
	Jan. 31, 2024
Debt Disclosure [Abstract]
Financing Arrangements	Note 5. Financing Arrangements The Company had outstanding debt as follows: (In millions) January 31, 2024 October 31, 2023 Short-term debt, excluding financing leases $ 45.1 $ 44.4 Financing lease liabilities 1.0 1.0 Short-term debt $ 46.1 $ 45.4 Revolving credit $ 375.0 $ 172.6 Term loans 2,350.0 2,350.0 Other 0.2 0.2 Less: unamortized debt issuance cost (2.3) (2.4) Long-term debt, excluding financing leases 2,722.9 2,520.4 Financing lease liabilities 3.3 3.4 Long-term debt $ 2,726.2 $ 2,523.8 Total debt $ 2,772.3 $ 2,569.2 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, 2023, which was filed with the Securities and Exchange Commission on December 8, 2023. 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 January 31, 2024, the Company was in compliance with all debt covenants. Term Loan Agreement on December 17, 2021 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 January 31, 2024, the Company had $1.5 billion outstanding under the 2021 Term Loan Facility and the interest rate was 6.45%. 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. 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. On January 31, 2024, the Company had $850.0 million outstanding under the 2020 Term Loan Facility and $375.0 million outstanding under the 2020 Revolving Credit Facility. The interest rate on the 2020 Term Loan Facility and the weighted-average interest rate on the 2020 Revolving Credit Facility was 6.45% at January 31, 2024.

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 6. Income Taxes The effective tax rates for the three months ended January 31, 2024, and January 31, 2023, were 32.4% and 30.7%, respectively. The increase was primarily due to changes in the geographic composition of pre-tax earnings and an increase in the UK statutory tax rate from 19% to 25%, partially offset by an increase in excess tax benefits from share-based compensation.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jan. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 7. Earnings Per Share Period Ended January 31, Three Months (In millions, except per share amounts) 2024 2023 Net income $ 81.2 $ 84.6 Basic: Weighted-average common shares 198.4 197.5 Basic earnings per share $ 0.41 $ 0.43 Diluted: Weighted-average common shares 198.4 197.5 Effect of dilutive stock plans 1.5 1.2 Diluted weighted-average common shares 199.9 198.7 Diluted earnings per share $ 0.41 $ 0.43 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: Period Ended January 31, Three Months (In thousands, except exercise prices) 2024 2023 Stock option shares excluded 1,245 2,056 Exercise prices $82.46 - $101.54 $75.03 - $101.54 Restricted stock units excluded 1 852

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jan. 31, 2024
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, 2023. The compensation expense and 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: Period Ended January 31, Three Months (In millions) 2024 2023 Selling, general and administrative expense $ 21.8 $ 14.4 Cost of sales 1.2 1.1 Research and development expense 0.9 0.8 Total share-based compensation expense $ 23.9 $ 16.3 Related income tax benefit $ 3.3 $ 1.7

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jan. 31, 2024
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, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 84.0 — (27.8) 56.2 Tax effect — — 6.8 6.8 Balance at January 31, 2023 $ (471.0) $ (6.2) $ 73.4 $ (403.8) Balance at October 31, 2023 $ (538.0) $ (3.2) $ 87.4 $ (453.8) Gross change in value 59.8 — (36.8) 23.0 Tax effect — — 8.8 8.8 Balance at January 31, 2024 $ (478.2) $ (3.2) $ 59.4 $ (422.0) Share Repurchases In March 2017, the authorization under the 2012 Share Repurchase Program was increased to $1.0 billion by the Company's Board of Directors. As of January 31, 2024, $256.4 million remains authorized for repurchase. During the three months ended January 31, 2024, and 2023, there were no share repurchases. Dividends In December 2023, the Company's Board of Directors decided to end the declaration of the semiannual dividend.

Contingencies and Commitments

Contingencies and Commitments	3 Months Ended
	Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Commitments	Note 10. Contingencies and Commitments 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. As of January 31, 2024, the Company entered into an additional lease that has not yet commenced in order to expand capacity. The undiscounted lease payments are estimated at $73.0 million for a lease that will commence beginning in fiscal 2025 for a term of 25 years.

Business Segment Information

Business Segment Information	3 Months Ended
	Jan. 31, 2024
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: Period Ended January 31, Three Months (In millions) 2024 2023 CooperVision net sales by category: Toric and multifocal $ 297.3 $ 261.6 Sphere, other 324.2 319.7 Total CooperVision net sales $ 621.5 $ 581.3 CooperSurgical net sales by category: Office and surgical $ 191.1 $ 165.2 Fertility 119.0 112.0 CooperSurgical net sales 310.1 277.2 Total net sales $ 931.6 $ 858.5 Operating income (loss): CooperVision $ 154.8 $ 160.1 CooperSurgical 24.0 5.8 Corporate (25.7) (16.4) Total operating income 153.1 149.5 Interest expense 29.9 26.1 Other expense, net 3.2 1.3 Income before income taxes $ 120.0 $ 122.1 (In millions) January 31, 2024 October 31, 2023 Total identifiable assets: CooperVision $ 7,129.5 $ 7,044.0 CooperSurgical 4,663.3 4,351.8 Corporate 239.8 263.1 Total $ 12,032.6 $ 11,658.9 Geographic information: Period Ended January 31, Three Months (In millions) 2024 2023 Net sales to unaffiliated customers by country of domicile: United States $ 470.4 $ 434.8 Europe 276.6 248.2 Rest of world 184.6 175.5 Total $ 931.6 $ 858.5 (In millions) January 31, 2024 October 31, 2023 Net property, plant and equipment by country of domicile: United States $ 1,049.4 $ 1,027.6 Europe 353.6 325.9 Rest of world 279.2 279.1 Total $ 1,682.2 $ 1,632.6

Financial Derivatives and Hedgi

Financial Derivatives and Hedging	3 Months Ended
	Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivatives and Hedging	Note 12. Financial Derivatives and Hedging As of January 31, 2024, the notional amount of outstanding foreign currency forward contracts was $59.3 million. The resulting impact on our Consolidated Financial Statements from currency hedging activities was not significant for the three months ended January 31, 2024, and January 31, 2023. As of January 31, 2024, the Company has 8 interest rate swap contracts that have a total notional amount of $1.6 billion and remaining maturities of four years or less. The following table summarizes the amounts recognized with respect to our derivative instruments within the accompanying Consolidated Condensed Statements of Income and Comprehensive Income: Period Ended January 31, Three Months (In millions) 2024 2023 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest expense (income) $ (13.6) $ (8.3) 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: Period Ended January 31, Three Months (In millions) 2024 2023 Beginning balance gain $ 115.1 $ 124.5 Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross (23.2) (19.5) Amount reclassified from accumulated other comprehensive income into earnings, gross (13.6) (8.3) Ending balance gain $ 78.3 $ 96.7 The amount recognized in other comprehensive income on interest rate swap contracts was $(18.0) million and $(14.8) million, net of tax, for the three months ended January 31, 2024, and 2023, respectively. The amount reclassified from other comprehensive income into earnings was $(10.0) million and $(6.2) million, net of tax, for the three months ended January 31, 2024, and 2023, respectively. Refer to Note 9. Stockholders' Equity for amounts presented net of the related tax impact in "Accumulated other comprehensive loss." The Company expects th a t $(42.7) million recorded as a component of "Accumulated other comprehensive loss" will be realized in the Consolidated Condensed Statements of Income over the next twelve months and the amount will vary depending on prevailing interest rates.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Pay vs Performance Disclosure
Net income	$ 81.2	$ 84.6

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jan. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General (Policies)

General (Policies)	3 Months Ended
	Jan. 31, 2024
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 Issued But Not Yet Adopted	Accounting Pronouncements Issued But Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires public entities to disclose specific categories in the effective tax rate reconciliation and additional information for reconciling items that exceed a quantitative threshold. The guidance also requires all disaggregated information pertaining to taxes paid, net of refunds received, for federal, state and foreign income taxes. The new guidance is effective for fiscal years beginning after December 15, 2024, with the option to apply prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact that the adoption of this guidance will have on our consolidated financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
Contingencies and Commitments	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)	3 Months Ended
	Jan. 31, 2024
Inventory Disclosure [Abstract]
Schedule of inventories	(In millions) January 31, 2024 October 31, 2023 Raw materials $ 208.7 $ 207.3 Work-in-process 18.8 19.0 Finished goods 520.0 509.3 Total inventories $ 747.5 $ 735.6

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Intangible assets consisted of the following: January 31, 2024 October 31, 2023 (In millions) Gross Accumulated Gross Accumulated Weighted-Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,125.6 $ 358.3 $ 1,099.2 $ 345.8 19 Composite intangible asset 1,061.9 442.5 1,061.9 424.8 15 Technology 652.7 348.3 494.5 335.4 11 Trademarks 204.5 79.8 208.9 81.1 15 License and distribution rights and other 47.8 24.8 51.6 28.0 11 3,092.5 $ 1,253.7 2,916.1 $ 1,215.1 16 Less: accumulated amortization and translation 1,253.7 1,215.1 Intangible assets with definite lives, net 1,838.8 1,701.0 Intangible assets with indefinite lives, net (1) 9.3 9.3 Total other intangibles, net $ 1,848.1 $ 1,710.3 (1) Intangible assets with indefinite lives include technology and trademarks.
Schedule of indefinite-lived intangible assets	Intangible assets consisted of the following: January 31, 2024 October 31, 2023 (In millions) Gross Accumulated Gross Accumulated Weighted-Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,125.6 $ 358.3 $ 1,099.2 $ 345.8 19 Composite intangible asset 1,061.9 442.5 1,061.9 424.8 15 Technology 652.7 348.3 494.5 335.4 11 Trademarks 204.5 79.8 208.9 81.1 15 License and distribution rights and other 47.8 24.8 51.6 28.0 11 3,092.5 $ 1,253.7 2,916.1 $ 1,215.1 16 Less: accumulated amortization and translation 1,253.7 1,215.1 Intangible assets with definite lives, net 1,838.8 1,701.0 Intangible assets with indefinite lives, net (1) 9.3 9.3 Total other intangibles, net $ 1,848.1 $ 1,710.3 (1) Intangible assets with indefinite lives include technology and trademarks.
Schedule of remaining amortization expenses for intangible assets with definite lives	As of January 31, 2024, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2024 $ 147.7 2025 187.9 2026 180.3 2027 165.9 2028 161.4 Thereafter 995.6 Total remaining amortization for intangible assets with definite lives $ 1,838.8

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Jan. 31, 2024
Debt Disclosure [Abstract]
Schedule of debt	The Company had outstanding debt as follows: (In millions) January 31, 2024 October 31, 2023 Short-term debt, excluding financing leases $ 45.1 $ 44.4 Financing lease liabilities 1.0 1.0 Short-term debt $ 46.1 $ 45.4 Revolving credit $ 375.0 $ 172.6 Term loans 2,350.0 2,350.0 Other 0.2 0.2 Less: unamortized debt issuance cost (2.3) (2.4) Long-term debt, excluding financing leases 2,722.9 2,520.4 Financing lease liabilities 3.3 3.4 Long-term debt $ 2,726.2 $ 2,523.8 Total debt $ 2,772.3 $ 2,569.2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jan. 31, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share	Period Ended January 31, Three Months (In millions, except per share amounts) 2024 2023 Net income $ 81.2 $ 84.6 Basic: Weighted-average common shares 198.4 197.5 Basic earnings per share $ 0.41 $ 0.43 Diluted: Weighted-average common shares 198.4 197.5 Effect of dilutive stock plans 1.5 1.2 Diluted weighted-average common shares 199.9 198.7 Diluted earnings per share $ 0.41 $ 0.43
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 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: Period Ended January 31, Three Months (In thousands, except exercise prices) 2024 2023 Stock option shares excluded 1,245 2,056 Exercise prices $82.46 - $101.54 $75.03 - $101.54 Restricted stock units excluded 1 852

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Jan. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of compensation expense and related income tax benefit for share-based awards	The compensation expense and 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: Period Ended January 31, Three Months (In millions) 2024 2023 Selling, general and administrative expense $ 21.8 $ 14.4 Cost of sales 1.2 1.1 Research and development expense 0.9 0.8 Total share-based compensation expense $ 23.9 $ 16.3 Related income tax benefit $ 3.3 $ 1.7

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jan. 31, 2024
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, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 84.0 — (27.8) 56.2 Tax effect — — 6.8 6.8 Balance at January 31, 2023 $ (471.0) $ (6.2) $ 73.4 $ (403.8) Balance at October 31, 2023 $ (538.0) $ (3.2) $ 87.4 $ (453.8) Gross change in value 59.8 — (36.8) 23.0 Tax effect — — 8.8 8.8 Balance at January 31, 2024 $ (478.2) $ (3.2) $ 59.4 $ (422.0) Period Ended January 31, Three Months (In millions) 2024 2023 Beginning balance gain $ 115.1 $ 124.5 Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross (23.2) (19.5) Amount reclassified from accumulated other comprehensive income into earnings, gross (13.6) (8.3) Ending balance gain $ 78.3 $ 96.7

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Jan. 31, 2024
Segment Reporting [Abstract]
Schedule of segment information	Segment information: Period Ended January 31, Three Months (In millions) 2024 2023 CooperVision net sales by category: Toric and multifocal $ 297.3 $ 261.6 Sphere, other 324.2 319.7 Total CooperVision net sales $ 621.5 $ 581.3 CooperSurgical net sales by category: Office and surgical $ 191.1 $ 165.2 Fertility 119.0 112.0 CooperSurgical net sales 310.1 277.2 Total net sales $ 931.6 $ 858.5 Operating income (loss): CooperVision $ 154.8 $ 160.1 CooperSurgical 24.0 5.8 Corporate (25.7) (16.4) Total operating income 153.1 149.5 Interest expense 29.9 26.1 Other expense, net 3.2 1.3 Income before income taxes $ 120.0 $ 122.1
Schedule of identifiable assets by segment	(In millions) January 31, 2024 October 31, 2023 Total identifiable assets: CooperVision $ 7,129.5 $ 7,044.0 CooperSurgical 4,663.3 4,351.8 Corporate 239.8 263.1 Total $ 12,032.6 $ 11,658.9
Schedule of net sales to unaffiliated customers by country of domicile	Geographic information: Period Ended January 31, Three Months (In millions) 2024 2023 Net sales to unaffiliated customers by country of domicile: United States $ 470.4 $ 434.8 Europe 276.6 248.2 Rest of world 184.6 175.5 Total $ 931.6 $ 858.5
Schedule of net property, plant and equipment by country of domicile	(In millions) January 31, 2024 October 31, 2023 Net property, plant and equipment by country of domicile: United States $ 1,049.4 $ 1,027.6 Europe 353.6 325.9 Rest of world 279.2 279.1 Total $ 1,682.2 $ 1,632.6

Financial Derivatives and Hed_2

Financial Derivatives and Hedging (Tables)	3 Months Ended
	Jan. 31, 2024
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 Condensed Statements of Income and Comprehensive Income: Period Ended January 31, Three Months (In millions) 2024 2023 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest expense (income) $ (13.6) $ (8.3)
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, 2022 $ (555.0) $ (6.2) $ 94.4 $ (466.8) Gross change in value 84.0 — (27.8) 56.2 Tax effect — — 6.8 6.8 Balance at January 31, 2023 $ (471.0) $ (6.2) $ 73.4 $ (403.8) Balance at October 31, 2023 $ (538.0) $ (3.2) $ 87.4 $ (453.8) Gross change in value 59.8 — (36.8) 23.0 Tax effect — — 8.8 8.8 Balance at January 31, 2024 $ (478.2) $ (3.2) $ 59.4 $ (422.0) Period Ended January 31, Three Months (In millions) 2024 2023 Beginning balance gain $ 115.1 $ 124.5 Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross (23.2) (19.5) Amount reclassified from accumulated other comprehensive income into earnings, gross (13.6) (8.3) Ending balance gain $ 78.3 $ 96.7

General (Details)

General (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Feb. 16, 2024 $ / shares	Jan. 31, 2024 USD ($) $ / shares	Jan. 31, 2023 USD ($)	Oct. 31, 2023 $ / shares
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.10		$ 0.10
Revenue recognized | $		$ 31	$ 23
Subsequent Event
Class of Stock [Line Items]
Stock split, conversion ratio	4
Common stock, par value (in dollars per share)	$ 0.10

Acquisitions and Joint Venture

Acquisitions and Joint Venture - Narrative (Details) $ in Millions		1 Months Ended	3 Months Ended
	Nov. 01, 2023 USD ($) installment	Mar. 31, 2022 USD ($)	Jan. 31, 2024 USD ($)	Oct. 31, 2023 USD ($)	Feb. 28, 2022
Business Acquisition [Line Items]
Goodwill			$ 3,773.2	$ 3,624.5
Proceeds from sale of interest in a subsidiary		$ 52.1
Payments to form joint venture		10
Essilor International SAS
Business Acquisition [Line Items]
Payments to form joint venture		$ 10
SightGlass Vision, Inc.
Business Acquisition [Line Items]
Equity method investment, ownership percentage		50%			100%
Cook Medical
Business Acquisition [Line Items]
Aggregate consideration	$ 300		$ 291.6
Payments to acquire business	$ 200
Number of installments | installment	2
Goodwill	$ 107.2
Cook Medical | Payables First Installment
Business Acquisition [Line Items]
Payables incurred in acquisition	50
Cook Medical | Payables Second Installment
Business Acquisition [Line Items]
Payables incurred in acquisition	50
Cook Medical | Technology
Business Acquisition [Line Items]
Finite-lived intangibles	157.9
Cook Medical | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles	$ 26.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 208.7	$ 207.3
Work-in-process	18.8	19
Finished goods	520	509.3
Total inventories	$ 747.5	$ 735.6

Intangible Assets - Summary Of

Intangible Assets - Summary Of Intangible Assets (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 3,092.5	$ 2,916.1
Accumulated Amortization	1,253.7	1,215.1
Intangible assets with definite lives, net	1,838.8	1,701
Intangible assets with indefinite lives, net	9.3	9.3
Total other intangibles, net	$ 1,848.1	1,710.3
Weighted-Average Amortization Period (in years)	16 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 1,125.6	1,099.2
Accumulated Amortization	$ 358.3	345.8
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	$ 442.5	424.8
Weighted-Average Amortization Period (in years)	15 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 652.7	494.5
Accumulated Amortization	$ 348.3	335.4
Weighted-Average Amortization Period (in years)	11 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 204.5	208.9
Accumulated Amortization	$ 79.8	81.1
Weighted-Average Amortization Period (in years)	15 years
License and distribution rights and other
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Amount	$ 47.8	51.6
Accumulated Amortization	$ 24.8	$ 28
Weighted-Average Amortization Period (in years)	11 years

Intangible Assets - Remaining A

Intangible Assets - Remaining Amortization Expenses for Intangible Assets with Definite Lives (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 147.7
2025	187.9
2026	180.3
2027	165.9
2028	161.4
Thereafter	995.6
Intangible assets with definite lives, net	$ 1,838.8	$ 1,701

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details)	3 Months Ended
	Jan. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill and intangible assets	$ 0

Financing Arrangements - Total

Financing Arrangements - Total Debt (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Short-term Debt
Short-term debt	$ 45.1	$ 44.4
Financing lease liabilities	$ 1	1
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Short-term debt
Short-term debt	$ 46.1	45.4
Long-term Debt
Less: unamortized debt issuance cost	(2.3)	(2.4)
Long-term debt, excluding financing leases	2,722.9	2,520.4
Financing lease liabilities	$ 3.3	3.4
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt
Long-term debt	$ 2,726.2	2,523.8
Total debt	2,772.3	2,569.2
Term loans
Long-term Debt
Long-term debt, gross	2,350	2,350
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	$ 375	$ 172.6

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($) $ in Millions	Jan. 31, 2024	Dec. 17, 2021	Apr. 01, 2020
Line of Credit | Term Loan Facility 2021
Schedule of Long Term And Short Term Debt Instruments [Line Items]
Aggregate principal amount		$ 1,500
Debt outstanding	$ 1,500
Interest rate	6.45%
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	6.45%
Potential additional borrowing capacity			$ 1,605
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
Debt outstanding	$ 375
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
Debt outstanding	$ 850

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	32.40%	30.70%

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
		Jan. 31, 2024	Jan. 31, 2023
Earnings Per Share [Abstract]
Net income		$ 81.2	$ 84.6
Basic:
Weighted-average common shares (in shares)	[1]	198.4	197.5
Basic earnings per share (in dollars per share)	[1]	$ 0.41	$ 0.43
Diluted:
Weighted-average common shares (in shares)	[1]	198.4	197.5
Effect of dilutive stock plans (in shares)		1.5	1.2
Diluted weighted average common shares (in shares)	[1]	199.9	198.7
Diluted earnings per share (in dollars per share)	[1]	$ 0.41	$ 0.43
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.

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
	Jan. 31, 2024	Jan. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise prices, lower limit	$ 82.46	$ 75.03
Exercise prices, upper limit	$ 101.54	$ 101.54
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)	1,245	2,056
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)	1	852

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 23.9	$ 16.3
Related income tax benefit	3.3	1.7
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	21.8	14.4
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	1.2	1.1
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 0.9	$ 0.8

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) Income (Details) - USD ($) $ in Millions		3 Months Ended
		Jan. 31, 2024	Jan. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[1]	$ 7,551	$ 7,174.7
Gross change in value		23	56.2
Tax effect		8.8	6.8
Ending balance	[1]	7,695.3	7,335.7
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(538)	(555)
Gross change in value		59.8	84
Tax effect		0	0
Ending balance		(478.2)	(471)
Minimum Pension Liability
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(3.2)	(6.2)
Gross change in value		0	0
Tax effect		0	0
Ending balance		(3.2)	(6.2)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		87.4	94.4
Gross change in value		(36.8)	(27.8)
Tax effect		8.8	6.8
Ending balance		59.4	73.4
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[1]	(453.8)	(466.8)
Ending balance	[1]	$ (422)	$ (403.8)
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Feb. 10, 2023	Jan. 31, 2024	Jan. 31, 2023	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Share repurchase program, authorized amount for repurchase				$ 1,000
Share repurchase program, remaining authorized amount for repurchase		$ 256.4
Number of shares (in shares)		0	0
Dividends on common stock	$ 1.5
Dividends on common stock (in dollars per share)	$ 0.03		$ 0.03

Contingencies and Commitments (

Contingencies and Commitments (Details) $ in Millions	Jan. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Undiscounted lease payments	$ 73
Lease term (in years)	25 years

Business Segment Information -

Business Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 931.6	$ 858.5
Total operating income	153.1	149.5
Interest expense	29.9	26.1
Other expense, net	3.2	1.3
Income before income taxes	120	122.1
Operating Segments | CooperVision
Segment Reporting Information [Line Items]
Total net sales	621.5	581.3
Total operating income	154.8	160.1
Operating Segments | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	310.1	277.2
Total operating income	24	5.8
Operating Segments | Toric and multifocal | CooperVision
Segment Reporting Information [Line Items]
Total net sales	297.3	261.6
Operating Segments | Sphere, other | CooperVision
Segment Reporting Information [Line Items]
Total net sales	324.2	319.7
Operating Segments | Office and surgical | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	191.1	165.2
Operating Segments | Fertility | CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	119	112
Corporate
Segment Reporting Information [Line Items]
Total operating income	$ (25.7)	$ (16.4)

Business Segment Information _2

Business Segment Information - Schedule of Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 12,032.6	$ 11,658.9
Operating Segments | CooperVision
Segment Reporting Information [Line Items]
Total Identifiable assets	7,129.5	7,044
Operating Segments | CooperSurgical
Segment Reporting Information [Line Items]
Total Identifiable assets	4,663.3	4,351.8
Corporate
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 239.8	$ 263.1

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
	Jan. 31, 2024	Jan. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 931.6	$ 858.5
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	470.4	434.8
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	276.6	248.2
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 184.6	$ 175.5

Business Segment Information _4

Business Segment Information - Schedule of Net Property, Plant and Equipment By Country of Domicile (Details) - USD ($) $ in Millions	Jan. 31, 2024	Oct. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 1,682.2	$ 1,632.6
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,049.4	1,027.6
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	353.6	325.9
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 279.2	$ 279.1

Financial Derivatives and Hed_3

Financial Derivatives and Hedging - Narrative (Details) $ in Millions	3 Months Ended
	Jan. 31, 2024 USD ($) interest_rate_swap_contract	Jan. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount recognized in other comprehensive income on interest rate swaps contracts, net of tax	$ (18)	$ (14.8)
Amount reclassified from other comprehensive income into earnings, net of tax	(10)	$ (6.2)
Derivative loss expected to be realized in earnings over the next twelve months	(42.7)
Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	59.3
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 1,600
Number of interest rate swap contracts held | interest_rate_swap_contract	8
Derivative, term of contract (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
	Jan. 31, 2024	Jan. 31, 2023
Interest expense (income) | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss recognized on derivatives within interest expense	$ (13.6)	$ (8.3)

Financial Derivatives and Hed_5

Financial Derivatives and Hedging - Schedule of Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended
		Jan. 31, 2024	Jan. 31, 2023
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	[1]	$ 7,551	$ 7,174.7
Ending balance	[1]	7,695.3	7,335.7
Accumulated Gain (Loss), Net, Cash Flow Hedge, Before Tax, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance		115.1	124.5
Ending balance		78.3	96.7
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance		87.4	94.4
Amount recognized in accumulated other comprehensive income on interest rate swap contracts, gross		(23.2)	(19.5)
Amount reclassified from accumulated other comprehensive income into earnings, gross		(13.6)	(8.3)
Ending balance		$ 59.4	$ 73.4
[1] All periods presented have been adjusted to reflect the four-for-one stock split effected on February 16, 2024. Refer to Note 1. General for further information.