The Cooper Companies, Inc. (COO) 10-Q3 Mar 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Jan. 31, 2023	Feb. 24, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 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		49,455,664
Amendment Flag	false
Document Fiscal Year Focus	2023
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, 2023	Jan. 31, 2022
Income Statement [Abstract]
Net sales	$ 858.5	$ 787.2
Cost of sales	300	268.8
Gross profit	558.5	518.4
Selling, general and administrative expense	330.9	319.1
Research and development expense	31.6	26.2
Amortization of intangibles	46.5	42.3
Operating income	149.5	130.8
Interest expense	26.1	6.6
Other expense, net	1.3	2.3
Income before income taxes	122.1	121.9
Provision for income taxes (Note 6)	37.5	26.6
Net income	$ 84.6	$ 95.3
Earnings per share (Note 7):
Basic (in dollars per share)	$ 1.71	$ 1.93
Diluted (in dollars per share)	$ 1.70	$ 1.91
Number of shares used to compute earnings per share:
Basic (in shares)	49.4	49.4
Diluted (in shares)	49.7	49.9
Other comprehensive income, net of tax:
Cash flow hedges	$ (21)	$ 13.3
Foreign currency translation adjustment	84	(49.2)
Comprehensive income	$ 147.6	$ 59.4

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Current assets:
Cash and cash equivalents	$ 118.2	$ 138.2
Trade accounts receivable, net of allowance for credit losses of $24.7 at January 31, 2023, and $20.7 at October 31, 2022	581.8	557.8
Inventories (Note 3)	659.1	628.7
Prepaid expense and other current assets	218.4	208.9
Total current assets	1,577.5	1,533.6
Net property, plant and equipment	1,464	1,432.9
Goodwill	3,672.3	3,609.7
Other intangibles, net (Note 4)	1,863.4	1,885.1
Deferred tax assets	2,415.1	2,443.1
Other assets	568.8	587.9
Total assets	11,561.1	11,492.3
Current liabilities:
Short-term debt (Note 5)	68.1	412.6
Accounts payable	224.1	248.8
Employee compensation and benefits	167.2	152.1
Deferred revenue	106.4	93.6
Other current liabilities	350	373.1
Total current liabilities	915.8	1,280.2
Long-term debt (Note 5)	2,627.3	2,350.8
Deferred tax liabilities	144.3	149.9
Long-term tax payable	112.4	113.2
Deferred revenue	195.1	198.3
Accrued pension liability and other	230.5	225.2
Total liabilities	4,225.4	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 49.4 outstanding at January 31, 2023, and 53.8 issued and 49.3 outstanding at October 31, 2022	5.4	5.4
Additional paid-in capital	1,779.2	1,765.5
Accumulated other comprehensive loss	(403.8)	(466.8)
Retained earnings	6,668	6,584.9
Treasury stock at cost: 4.5 shares at January 31, 2023, and 4.5 shares at October 31, 2022	(713.3)	(714.5)
Total Cooper stockholders’ equity	7,335.5	7,174.5
Noncontrolling interests	0.2	0.2
Stockholders’ equity (Note 9)	7,335.7	7,174.7
Total liabilities and stockholders’ equity	$ 11,561.1	$ 11,492.3

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts	$ 24.7	$ 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)	49,400,000	49,300,000
Treasury stock (in shares)	4,500,000	4,500,000

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Shares	Treasury Stock	Treasury Stock Par Net Value	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests
Common stock, beginning balance (in shares) at Oct. 31, 2021		49,300,000
Treasury stock, beginning balance (in shares) at Oct. 31, 2021			4,400,000
Beginning balance at Oct. 31, 2021	$ 6,942	$ 5	$ (639.6)	$ 0.4	$ 1,715.2	$ (341.3)	$ 6,202.1	$ 0.2
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)	191,200	200,000	200,000
Stock repurchase	$ (78.5)		$ (78.5)
Common stock, ending balance (in shares) at Jan. 31, 2022		49,200,000
Treasury stock, ending balance (in shares) at Jan. 31, 2022			4,600,000
Ending balance at Jan. 31, 2022	$ 6,926.1	$ 5	$ (717.4)	0.4	1,719.2	(377.2)	6,295.9	0.2
Common stock, beginning balance (in shares) at Oct. 31, 2022	49,300,000	49,300,000
Treasury stock, beginning balance (in shares) at Oct. 31, 2022	4,500,000		4,500,000
Beginning balance at Oct. 31, 2022	$ 7,174.7	$ 5	$ (714.5)	0.4	1,765.5	(466.8)	6,584.9	0.2
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
Stock repurchase (in shares)	0
Common stock, ending balance (in shares) at Jan. 31, 2023	49,400,000	49,400,000
Treasury stock, ending balance (in shares) at Jan. 31, 2023	4,500,000		4,500,000
Ending balance at Jan. 31, 2023	$ 7,335.7	$ 5	$ (713.3)	$ 0.4	$ 1,779.2	$ (403.8)	$ 6,668	$ 0.2

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders' Equity (Parenthetical) - $ / shares		3 Months Ended
	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

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Cash flows from operating activities:
Net income	$ 84.6	$ 95.3
Depreciation and amortization	89.7	82
Change in fair value of contingent consideration	(31.8)	0
Net changes in operating capital	(28)	6.2
Other non-cash items	52.1	(17.5)
Net cash provided by operating activities	166.6	166
Cash flows from investing activities:
Purchases of property, plant and equipment	(83)	(57.1)
Acquisitions of businesses and assets, net of cash acquired, and other	(30.3)	(1,612.2)
Net cash used in investing activities	(113.3)	(1,669.3)
Cash flows from financing activities:
Proceeds from long-term debt, net of issuance costs	702	1,499.5
Repayments of long-term debt	(426.3)	(548.6)
Net (repayments of) proceeds from short-term debt	(351.7)	830.4
Net payments related to share-based compensation awards	(3.4)	(10.8)
Repurchase of common stock	0	(78.5)
Issuance of common stock for employee stock purchase plan	1.8	1.6
Net cash (used in) provided by financing activities	(77.6)	1,693.6
Effect of exchange rate changes on cash, cash equivalents and restricted cash	4.2	(3.7)
Net (decrease) increase in cash, cash equivalents, restricted cash, and cash held for sale	(20.1)	186.6
Cash, cash equivalents, restricted cash, and cash held for sale at beginning of period	138.6	96.6
Cash, cash equivalents, restricted cash, and cash held for sale at end of period	118.5	283.2
Reconciliation of cash flow information:
Cash and cash equivalents	118.2	280.7
Restricted cash included in other current assets	0.3	2.2
Cash held for sale	0	0.3
Total cash, cash equivalents, restricted cash, and cash held for sale	$ 118.5	$ 283.2

General

General	3 Months Ended
General	Jan. 31, 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. Accounting Pronouncements Issued But Not Yet Adopted 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 plans to adopt the guidance prospectively in the second quarter of fiscal 2023 and does not expect it to have a material impact on the Company's financial position. 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	3 Months Ended
Acquisitions and Joint Venture	Jan. 31, 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 of $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. Refer to "Joint Venture" below for details on formation of a joint venture with Essilor International and related activities that occurred in fiscal year 2022 following the acquisition of SightGlass Vision, Inc. (SGV) in fiscal year 2021. 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. Generate Life Sciences ® On December 17, 2021, CooperSurgical completed the acquisition of 100% of the equity interests in Generate Life Sciences (Generate), a privately held leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage (cord blood & cord tissue), and paid an aggregate purchase consideration of approximately $1.663 billion, reflecting working capital, and other adjustments. The cash consideration was funded through a combination of $1.5 billion in proceeds from the issuance of a senior unsecured term loan and available cash on hand. The following table summarizes the fair values of assets acquired and liabilities assumed as of the acquisition date: (In millions) Current assets: Cash and cash equivalents 58.6 Trade accounts receivable, net 18.1 Inventories 3.3 Prepaid expense and other current assets 33.1 Total current assets 113.1 Property, plant and equipment 42.6 Goodwill 1,173.9 Customer relationships 718.3 Trademarks 54.9 Other assets 21.5 Total assets acquired $ 2,124.3 Current liabilities: Accounts payable $ 12.6 Employee compensation and benefits 12.3 Deferred revenue 71.4 Other current liabilities 11.6 Total current liabilities 107.9 Deferred tax liabilities 144.3 Lease liabilities 16.6 Deferred revenue 188.8 Other long-term liabilities 3.6 Total liabilities assumed $ 461.2 Total purchase price $ 1,663.1 Customer relationships will be amortized over 20 years and trademarks will be amortized over 15 years. Goodwill is primarily attributable to assembled workforce and expected synergies to be achieved. The goodwill is not deductible for tax purposes. The transaction costs associated with the acquisition consisted primarily of legal, regulatory and financial advisory fees, which were expensed as incurred as selling, general and administrative expense. Joint Venture On January 19, 2021, CooperVision acquired all of the remaining equity interests of 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. As of January 31, 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. Contingent Consideration The following table provides a reconciliation of the beginning and ending balances of contingent consideration: Period Ended January 31, Three Months (In millions) 2023 2022 Beginning balance $ 33.4 $ 97.4 Purchase price contingent consideration — — Payments — — Change in fair value (31.8) 3.5 Ending balance $ 1.6 $ 100.9

Inventories

Inventories	3 Months Ended
Inventories	Jan. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Note 3. Inventories (In millions) January 31, 2023 October 31, 2022 Raw materials $ 191.6 $ 173.7 Work-in-process 18.1 15.2 Finished goods 449.4 439.8 Total inventories $ 659.1 $ 628.7

Intangible Assets

Intangible Assets	3 Months Ended
Intangible Assets	Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 4. Intangible Assets Intangible assets consisted of the following: January 31, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,110.4 $ 304.1 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 371.7 1,061.9 354.0 15 Technology 512.9 327.3 504.1 317.5 12 Trademarks 210.9 66.3 209.6 62.4 15 License and distribution rights and other 50.7 24.8 50.7 23.8 10 2,946.8 $ 1,094.2 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,094.2 1,044.7 Intangible assets with definite lives, net 1,852.6 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,863.4 $ 1,885.1 (1) Intangible assets with indefinite lives include technology and trademarks. Balances include foreign currency translation adjustments. As of January 31, 2023, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2023 $ 139.2 2024 181.4 2025 171.5 2026 164.0 2027 149.0 Thereafter 1,047.5 Total remaining amortization for intangible assets with definite lives $ 1,852.6 There was no impairment of intangible assets recorded in the three months ended January 31, 2023.

Financing Arrangements

Financing Arrangements	3 Months Ended
Financing Arrangements	Jan. 31, 2023
Debt Disclosure [Abstract]
Financing Arrangements	Note 5. Financing Arrangements The Company had outstanding debt as follows: (In millions) January 31, 2023 October 31, 2022 Overdraft and other credit facilities $ 51.6 $ 57.7 Term loans — 338.0 Short-term debt, excluding financing leases 51.6 395.7 Financing lease liabilities 16.5 16.9 Short-term debt $ 68.1 $ 412.6 Revolving credit $ 276.5 $ — Term loans 2,350.0 2,350.0 Other 0.1 0.2 Less: unamortized debt issuance cost (2.9) (3.1) Long-term debt, excluding financing leases 2,623.7 2,347.1 Financing lease liabilities 3.6 3.7 Long-term debt $ 2,627.3 $ 2,350.8 Total debt $ 2,695.4 $ 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 January 31, 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. The Company used the proceeds to fund the acquisition of Generate. Refer to Note 2. Acquisitions and Joint Venture for more details. On January 31, 2023, the Company had $1.5 billion outstanding under the 2021 Term Loan Facility and the weighted average interest rate was 5.04%. 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. On January 31, 2023, the Company had $850.0 million outstanding under the 2020 Term Loan Facility and $276.5 million outstanding under the 2020 Revolving Credit Facility. The interest rate on the 2020 Term Loan Facility and the 2020 Revolving Credit Facility was 5.37% at January 31, 2023.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 6. Income Taxes The effective tax rates for the three months ended January 31, 2023 and January 31, 2022 were 30.7% and 21.8%, respectively. The increase was 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	3 Months Ended
Earnings Per Share	Jan. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 7. Earnings Per Share Period Ended January 31, Three Months (In millions, except per share amounts) 2023 2022 Net income $ 84.6 $ 95.3 Basic: Weighted average common shares 49.4 49.4 Basic earnings per share $ 1.71 $ 1.93 Diluted: Weighted average common shares 49.4 49.4 Effect of dilutive stock plans 0.3 0.5 Diluted weighted average common shares 49.7 49.9 Diluted earnings per share $ 1.70 $ 1.91 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: Period Ended January 31, Three Months (In thousands, except exercise prices) 2023 2022 Stock option shares excluded 514 224 Exercise prices $300.12 - $406.17 $345.74 - $406.17 Restricted stock units excluded 213 —

Share-Based Compensation

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Jan. 31, 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 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) 2023 2022 Selling, general and administrative expense $ 14.4 $ 11.5 Cost of sales 1.1 1.3 Research and development expense 0.8 0.8 Total share-based compensation expense $ 16.3 $ 13.6 Related income tax benefit $ 1.7 $ 1.6

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Jan. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 9. Stockholders' Equity Analysis of Changes in Accumulated Other Comprehensive Income: (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 (49.2) — 17.6 (31.6) Tax effect — — (4.3) (4.3) Balance at January 31, 2022 $ (369.5) $ (34.1) $ 26.4 $ (377.2) 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) Share Repurchases In December 2011, the Company's Board of Directors authorized the 2012 Share Repurchase 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 January 31, 2023, $256.4 million remains authorized for repurchase under the 2012 Share Repurchase Program. During the three months ended January 31, 2023, there was no share repurchase under the 2012 Share Repurchase Program. During the three months ended January 31, 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	3 Months Ended
Contingencies	Jan. 31, 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	3 Months Ended
Business Segment Information	Jan. 31, 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: Period Ended January 31, Three Months (In millions) 2023 2022 CooperVision net sales by category: Toric lens $ 189.8 $ 182.2 Multifocal lens 71.8 65.8 Single-use sphere lens 168.3 167.0 Non single-use sphere, other 151.4 146.5 Total CooperVision net sales $ 581.3 $ 561.5 CooperSurgical net sales by category: Office and surgical $ 165.2 $ 128.9 Fertility 112.0 96.8 CooperSurgical net sales 277.2 225.7 Total net sales $ 858.5 $ 787.2 Operating income (loss): CooperVision $ 160.1 $ 127.4 CooperSurgical 5.8 15.6 Corporate (16.4) (12.2) Total operating income 149.5 130.8 Interest expense 26.1 6.6 Other expense, net 1.3 2.3 Income before income taxes $ 122.1 $ 121.9 (In millions) January 31, 2023 October 31, 2022 Total identifiable assets: CooperVision $ 6,945.7 $ 6,778.9 CooperSurgical 4,333.9 4,407.8 Corporate 281.5 305.6 Total $ 11,561.1 $ 11,492.3 Geographic information: Period Ended January 31, Three Months (In millions) 2023 2022 Net sales to unaffiliated customers by country of domicile: United States $ 434.8 $ 365.3 Europe 248.2 250.4 Rest of world 175.5 171.5 Total $ 858.5 $ 787.2 (In millions) January 31, 2023 October 31, 2022 Net property, plant and equipment by country of domicile: United States $ 871.3 $ 856.1 Europe 325.3 310.8 Rest of world 267.4 266.0 Total $ 1,464.0 $ 1,432.9

Financial Derivatives and Hedgi

Financial Derivatives and Hedging	3 Months Ended
Financial Derivatives and Hedging	Jan. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivatives and Hedging	Note 12. Financial Derivatives and Hedging On April 6, 2020, the Company entered into six interest rate swap contracts which were used to hedge its exposure to changes in cash flows associated with its variable rate debt and were designated as derivatives in a cash flow hedge. The payment streams were based on a total notional amount of $1.5 billion at the inception of the contracts. As of January 31, 2023, three of the six interest rate swap contracts have matured and the outstanding contracts have a total notional amount of $1.0 billion and remaining maturities of five years or less. The Company did not have any cross-currency swaps or foreign currency forward contracts as of January 31, 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 cumulative pre-tax impact of the gain on derivatives designated for hedge accounting recognized in accumulated other comprehensive income was $96.7 million ($73.4 million, net of tax) as of January 31, 2023, and $34.8 million ($26.4 million, net of tax) as of January 31, 2022 . 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: Period Ended January 31, Three Months (In millions) 2023 2022 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest (income) expense $ (8.3) $ 1.9 The Company expects th at $38.1 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 following table details the changes in accumulated other comprehensive income: Period Ended January 31, Three Months (In millions) 2023 2022 Beginning balance gain $ 124.5 $ 17.2 Amount recognized in other comprehensive income on interest rate swap contracts, gross ($(14.8) million, net of tax and $11.9 million, net of tax, respectively) (19.5) 15.7 Amount reclassified from other comprehensive income into earnings, gross ($(6.2) million, net of tax and $1.4 million, net of tax, respectively) (8.3) 1.9 Ending balance gain $ 96.7 $ 34.8

General (Policies)

General (Policies)	3 Months Ended
General (Policies)	Jan. 31, 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 and Accounting Pronouncements Issued Not Yet 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. Accounting Pronouncements Issued But Not Yet Adopted 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 plans to adopt the guidance prospectively in the second quarter of fiscal 2023 and does not expect it to have a material impact on the Company's financial position. 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 (Tables)	3 Months Ended
Acquisitions and Joint Venture (Tables)	Jan. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table summarizes the fair values of assets acquired and liabilities assumed as of the acquisition date: (In millions) Current assets: Cash and cash equivalents 58.6 Trade accounts receivable, net 18.1 Inventories 3.3 Prepaid expense and other current assets 33.1 Total current assets 113.1 Property, plant and equipment 42.6 Goodwill 1,173.9 Customer relationships 718.3 Trademarks 54.9 Other assets 21.5 Total assets acquired $ 2,124.3 Current liabilities: Accounts payable $ 12.6 Employee compensation and benefits 12.3 Deferred revenue 71.4 Other current liabilities 11.6 Total current liabilities 107.9 Deferred tax liabilities 144.3 Lease liabilities 16.6 Deferred revenue 188.8 Other long-term liabilities 3.6 Total liabilities assumed $ 461.2 Total purchase price $ 1,663.1
Contingent consideration reconciliation	The following table provides a reconciliation of the beginning and ending balances of contingent consideration: Period Ended January 31, Three Months (In millions) 2023 2022 Beginning balance $ 33.4 $ 97.4 Purchase price contingent consideration — — Payments — — Change in fair value (31.8) 3.5 Ending balance $ 1.6 $ 100.9

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Jan. 31, 2023
Inventory Disclosure [Abstract]
Schedule of inventories	(In millions) January 31, 2023 October 31, 2022 Raw materials $ 191.6 $ 173.7 Work-in-process 18.1 15.2 Finished goods 449.4 439.8 Total inventories $ 659.1 $ 628.7

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
Intangible Assets (Tables)	Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Intangible assets consisted of the following: January 31, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,110.4 $ 304.1 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 371.7 1,061.9 354.0 15 Technology 512.9 327.3 504.1 317.5 12 Trademarks 210.9 66.3 209.6 62.4 15 License and distribution rights and other 50.7 24.8 50.7 23.8 10 2,946.8 $ 1,094.2 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,094.2 1,044.7 Intangible assets with definite lives, net 1,852.6 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,863.4 $ 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: January 31, 2023 October 31, 2022 (In millions) Gross Accumulated Gross Accumulated Weighted Average Amortization Period (in years) Intangible assets with definite lives: Customer relationships $ 1,110.4 $ 304.1 $ 1,092.7 $ 287.0 19 Composite intangible asset 1,061.9 371.7 1,061.9 354.0 15 Technology 512.9 327.3 504.1 317.5 12 Trademarks 210.9 66.3 209.6 62.4 15 License and distribution rights and other 50.7 24.8 50.7 23.8 10 2,946.8 $ 1,094.2 2,919.0 $ 1,044.7 16 Less: accumulated amortization and translation 1,094.2 1,044.7 Intangible assets with definite lives, net 1,852.6 1,874.3 Intangible assets with indefinite lives, net (1) 10.8 10.8 Total other intangibles, net $ 1,863.4 $ 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 January 31, 2023, the estimate of future amortization expenses for intangible assets with definite lives is as follows: Fiscal Years: (In millions) Remainder of 2023 $ 139.2 2024 181.4 2025 171.5 2026 164.0 2027 149.0 Thereafter 1,047.5 Total remaining amortization for intangible assets with definite lives $ 1,852.6

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
Financing Arrangements (Tables)	Jan. 31, 2023
Debt Disclosure [Abstract]
Schedule of debt	The Company had outstanding debt as follows: (In millions) January 31, 2023 October 31, 2022 Overdraft and other credit facilities $ 51.6 $ 57.7 Term loans — 338.0 Short-term debt, excluding financing leases 51.6 395.7 Financing lease liabilities 16.5 16.9 Short-term debt $ 68.1 $ 412.6 Revolving credit $ 276.5 $ — Term loans 2,350.0 2,350.0 Other 0.1 0.2 Less: unamortized debt issuance cost (2.9) (3.1) Long-term debt, excluding financing leases 2,623.7 2,347.1 Financing lease liabilities 3.6 3.7 Long-term debt $ 2,627.3 $ 2,350.8 Total debt $ 2,695.4 $ 2,763.4

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Jan. 31, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share	Period Ended January 31, Three Months (In millions, except per share amounts) 2023 2022 Net income $ 84.6 $ 95.3 Basic: Weighted average common shares 49.4 49.4 Basic earnings per share $ 1.71 $ 1.93 Diluted: Weighted average common shares 49.4 49.4 Effect of dilutive stock plans 0.3 0.5 Diluted weighted average common shares 49.7 49.9 Diluted earnings per share $ 1.70 $ 1.91
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: Period Ended January 31, Three Months (In thousands, except exercise prices) 2023 2022 Stock option shares excluded 514 224 Exercise prices $300.12 - $406.17 $345.74 - $406.17 Restricted stock units excluded 213 —

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
Share-Based Compensation (Tables)	Jan. 31, 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 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) 2023 2022 Selling, general and administrative expense $ 14.4 $ 11.5 Cost of sales 1.1 1.3 Research and development expense 0.8 0.8 Total share-based compensation expense $ 16.3 $ 13.6 Related income tax benefit $ 1.7 $ 1.6

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Jan. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of changes in accumulated other comprehensive income	Analysis of Changes in Accumulated Other Comprehensive Income: (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 (49.2) — 17.6 (31.6) Tax effect — — (4.3) (4.3) Balance at January 31, 2022 $ (369.5) $ (34.1) $ 26.4 $ (377.2) 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) The following table details the changes in accumulated other comprehensive income: Period Ended January 31, Three Months (In millions) 2023 2022 Beginning balance gain $ 124.5 $ 17.2 Amount recognized in other comprehensive income on interest rate swap contracts, gross ($(14.8) million, net of tax and $11.9 million, net of tax, respectively) (19.5) 15.7 Amount reclassified from other comprehensive income into earnings, gross ($(6.2) million, net of tax and $1.4 million, net of tax, respectively) (8.3) 1.9 Ending balance gain $ 96.7 $ 34.8

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Jan. 31, 2023
Segment Reporting [Abstract]
Schedule of segment information	Segment information: Period Ended January 31, Three Months (In millions) 2023 2022 CooperVision net sales by category: Toric lens $ 189.8 $ 182.2 Multifocal lens 71.8 65.8 Single-use sphere lens 168.3 167.0 Non single-use sphere, other 151.4 146.5 Total CooperVision net sales $ 581.3 $ 561.5 CooperSurgical net sales by category: Office and surgical $ 165.2 $ 128.9 Fertility 112.0 96.8 CooperSurgical net sales 277.2 225.7 Total net sales $ 858.5 $ 787.2 Operating income (loss): CooperVision $ 160.1 $ 127.4 CooperSurgical 5.8 15.6 Corporate (16.4) (12.2) Total operating income 149.5 130.8 Interest expense 26.1 6.6 Other expense, net 1.3 2.3 Income before income taxes $ 122.1 $ 121.9
Schedule of identifiable assets by segment	(In millions) January 31, 2023 October 31, 2022 Total identifiable assets: CooperVision $ 6,945.7 $ 6,778.9 CooperSurgical 4,333.9 4,407.8 Corporate 281.5 305.6 Total $ 11,561.1 $ 11,492.3
Schedule of net sales to unaffiliated customers by country of domicile	Geographic information: Period Ended January 31, Three Months (In millions) 2023 2022 Net sales to unaffiliated customers by country of domicile: United States $ 434.8 $ 365.3 Europe 248.2 250.4 Rest of world 175.5 171.5 Total $ 858.5 $ 787.2
Schedule of net property, plant and equipment by country of domicile	(In millions) January 31, 2023 October 31, 2022 Net property, plant and equipment by country of domicile: United States $ 871.3 $ 856.1 Europe 325.3 310.8 Rest of world 267.4 266.0 Total $ 1,464.0 $ 1,432.9

Financial Derivatives and Hed_2

Financial Derivatives and Hedging (Tables)	3 Months Ended
Financial Derivatives and Hedging (Tables)	Jan. 31, 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: Period Ended January 31, Three Months (In millions) 2023 2022 Derivatives designated as cash flow hedges Location of (Gain)/Loss Recognized on Derivatives Interest rate swap contracts Interest (income) expense $ (8.3) $ 1.9
Schedule of changes in accumulated other comprehensive income	Analysis of Changes in Accumulated Other Comprehensive Income: (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 (49.2) — 17.6 (31.6) Tax effect — — (4.3) (4.3) Balance at January 31, 2022 $ (369.5) $ (34.1) $ 26.4 $ (377.2) 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) The following table details the changes in accumulated other comprehensive income: Period Ended January 31, Three Months (In millions) 2023 2022 Beginning balance gain $ 124.5 $ 17.2 Amount recognized in other comprehensive income on interest rate swap contracts, gross ($(14.8) million, net of tax and $11.9 million, net of tax, respectively) (19.5) 15.7 Amount reclassified from other comprehensive income into earnings, gross ($(6.2) million, net of tax and $1.4 million, net of tax, respectively) (8.3) 1.9 Ending balance gain $ 96.7 $ 34.8

Acquisitions and Joint Ventur_2

Acquisitions and Joint Venture - Narrative (Details) - USD ($)			1 Months Ended	3 Months Ended			12 Months Ended
	Nov. 01, 2022	Dec. 17, 2021	Mar. 31, 2022	Apr. 30, 2023	Jan. 31, 2023	Jan. 31, 2022	Oct. 31, 2022	Jan. 19, 2021
Business Acquisition [Line Items]
Goodwill					$ 3,672,300,000		$ 3,609,700,000
Finite-lived intangible asset, useful life					16 years
Proceeds from sale of interest in a subsidiary			$ 52,100,000
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
Composite intangible asset
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life					19 years
Trademarks
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life					15 years
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life					12 years
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products
Business Acquisition [Line Items]
Goodwill	$ 13,100,000
Goodwill, expected tax deductible amount	0
Aggregate consideration	33,000,000
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products \| Composite intangible asset
Business Acquisition [Line Items]
Finite-lived intangibles	12,600,000
Privately-Held U.S.-Based Company, Technologically Advanced Contact Lens Products \| Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Finite-lived intangibles	$ 7,600,000
Cook Medicals Reproductive Health Business \| Forecast \| Subsequent Event
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 \| Forecast \| Subsequent Event \| Payables First Installment
Business Acquisition [Line Items]
Payables incurred in acquisition				50,000,000
Cook Medicals Reproductive Health Business \| Forecast \| Subsequent Event \| Payables Second Installment
Business Acquisition [Line Items]
Payables incurred in acquisition				50,000,000
Cook Medicals Reproductive Health Business \| Forecast \| Subsequent Event \| Payables Third Installment
Business Acquisition [Line Items]
Payables incurred in acquisition				50,000,000
Cook Medicals Reproductive Health Business \| Forecast \| Subsequent Event \| Payables Fourth Installment
Business Acquisition [Line Items]
Payables incurred in acquisition				$ 50,000,000
Generate Life Sciences
Business Acquisition [Line Items]
Total purchase price		$ 1,663,100,000
Total assets acquired		2,124,300,000
Total liabilities assumed		461,200,000
Goodwill		1,173,900,000
Goodwill, expected tax deductible amount		0
Payments to acquire business		$ 1,663,000,000
Ownership percentage		100%
Generate Life Sciences \| Composite intangible asset
Business Acquisition [Line Items]
Finite-lived intangibles		$ 718,300,000
Finite-lived intangible asset, useful life		20 years
Generate Life Sciences \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangibles		$ 54,900,000
Finite-lived intangible asset, useful life		15 years
Generate Life Sciences \| Line of Credit \| Term Loan Facility 2021
Business Acquisition [Line Items]
Proceeds from line of credit		$ 1,500,000,000
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

Acquisitions and Joint Venture-

Acquisitions and Joint Venture- Asset and Liabilities (Details) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022	Dec. 17, 2021
Current assets:
Goodwill	$ 3,672.3	$ 3,609.7
Generate Life Sciences
Current assets:
Cash and cash equivalents			$ 58.6
Trade accounts receivable, net			18.1
Inventories			3.3
Prepaid expense and other current assets			33.1
Total current assets			113.1
Property, plant and equipment			42.6
Goodwill			1,173.9
Other assets			21.5
Total assets acquired			2,124.3
Current liabilities:
Accounts payable			12.6
Employee compensation and benefits			12.3
Deferred revenue			71.4
Other current liabilities			11.6
Total current liabilities			107.9
Deferred tax liabilities			144.3
Lease liabilities			16.6
Deferred revenue			188.8
Other long-term liabilities			3.6
Total liabilities assumed			461.2
Total purchase price			1,663.1
Generate Life Sciences \| Composite intangible asset
Current assets:
Finite-lived intangibles			718.3
Generate Life Sciences \| Trademarks
Current assets:
Finite-lived intangibles			$ 54.9

Acquisitions and Joint Ventur_3

Acquisitions and Joint Venture - Contingent Consideration Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 33.4	$ 97.4
Purchase price contingent consideration	0	0
Payments	0	0
Change in fair value	(31.8)	3.5
Ending balance	$ 1.6	$ 100.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 191.6	$ 173.7
Work-in-process	18.1	15.2
Finished goods	449.4	439.8
Total inventories	$ 659.1	$ 628.7

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2023	Oct. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,946.8	$ 2,919
Accumulated Amortization	1,094.2	1,044.7
Intangible assets with definite lives, net	$ 1,852.6	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	1,863.4	1,885.1
Composite intangible asset
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,110.4	1,092.7
Accumulated Amortization	$ 304.1	287
Weighted Average Amortization Period (in years)	19 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,061.9	1,061.9
Accumulated Amortization	$ 371.7	354
Weighted Average Amortization Period (in years)	15 years
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 512.9	504.1
Accumulated Amortization	$ 327.3	317.5
Weighted Average Amortization Period (in years)	12 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 210.9	209.6
Accumulated Amortization	$ 66.3	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	$ 24.8	$ 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	Jan. 31, 2023	Oct. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 139.2
2024	181.4
2025	171.5
2026	164
2027	149
Thereafter	1,047.5
Intangible assets with definite lives, net	$ 1,852.6	$ 1,874.3

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details)	3 Months Ended
Intangible Assets - Narrative (Details)	Jan. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0

Financing Arrangements - Total

Financing Arrangements - Total Debt (Details) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Short-term Debt
Short-term debt	$ 51.6	$ 395.7
Financing lease liabilities	$ 16.5	16.9
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Short-term debt
Short-term debt	$ 68.1	412.6
Long-term Debt
Less: unamortized debt issuance cost	(2.9)	(3.1)
Long-term debt, excluding financing leases	2,623.7	2,347.1
Financing lease liabilities	$ 3.6	3.7
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt
Long-term debt	$ 2,627.3	2,350.8
Total debt	2,695.4	2,763.4
Overdraft and other credit facilities
Short-term Debt
Short-term debt	51.6	57.7
Term loans
Short-term Debt
Short-term debt	0	338
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	$ 276.5	$ 0

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Nov. 02, 2021	Jan. 31, 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		5.04%
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		$ 276,500,000
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		5.37%
Potential additional borrowing capacity				$ 1,605,000,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Jan. 31, 2023	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	30.70%	21.80%

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, 2023	Jan. 31, 2022
Earnings Per Share [Abstract]
Net income	$ 84.6	$ 95.3
Basic:
Weighted average common shares (in shares)	49.4	49.4
Basic earnings per share (in dollars per share)	$ 1.71	$ 1.93
Diluted:
Weighted average common shares (in shares)	49.4	49.4
Effect of potential dilutive shares (in shares)	0.3	0.5
Diluted weighted average common shares (in shares)	49.7	49.9
Diluted earnings per share (in dollars per share)	$ 1.70	$ 1.91

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, 2023	Jan. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise prices, lower limit	$ 300.12	$ 345.74
Exercise prices, upper limit	$ 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)	514	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)	213,000	0

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
Share-Based Compensation (Details) - USD ($) $ in Millions	Jan. 31, 2023	Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 16.3	$ 13.6
Related income tax benefit	1.7	1.6
Selling, general and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	14.4	11.5
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	1.1	1.3
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 0.8	$ 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, 2023	Jan. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 7,174.7	$ 6,942
Gross change in value	56.2	(31.6)
Tax effect	6.8	(4.3)
Ending balance	7,335.7	6,926.1
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(555)	(320.3)
Gross change in value	84	(49.2)
Tax effect	0	0
Ending balance	(471)	(369.5)
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	(27.8)	17.6
Tax effect	6.8	(4.3)
Ending balance	73.4	26.4
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(466.8)	(341.3)
Ending balance	$ (403.8)	$ (377.2)

Stockholders' Equity - Narrativ

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

Business Segment Information -

Business Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Segment Reporting Information [Line Items]
Total net sales	$ 858.5	$ 787.2
Total operating income	149.5	130.8
Interest expense	26.1	6.6
Other expense, net	1.3	2.3
Income before income taxes	122.1	121.9
Operating Segments \| CooperVision
Segment Reporting Information [Line Items]
Total net sales	581.3	561.5
Total operating income	160.1	127.4
Operating Segments \| CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	277.2	225.7
Total operating income	5.8	15.6
Operating Segments \| Toric lens \| CooperVision
Segment Reporting Information [Line Items]
Total net sales	189.8	182.2
Operating Segments \| Multifocal lens \| CooperVision
Segment Reporting Information [Line Items]
Total net sales	71.8	65.8
Operating Segments \| Single-use sphere lens \| CooperVision
Segment Reporting Information [Line Items]
Total net sales	168.3	167
Operating Segments \| Non single-use sphere, other \| CooperVision
Segment Reporting Information [Line Items]
Total net sales	151.4	146.5
Operating Segments \| Office and surgical \| CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	165.2	128.9
Operating Segments \| Fertility \| CooperSurgical
Segment Reporting Information [Line Items]
Total net sales	112	96.8
Corporate
Segment Reporting Information [Line Items]
Total operating income	$ (16.4)	$ (12.2)

Business Segment Information _2

Business Segment Information - Schedule of Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 11,561.1	$ 11,492.3
Operating Segments \| CooperVision
Segment Reporting Information [Line Items]
Total Identifiable assets	6,945.7	6,778.9
Operating Segments \| CooperSurgical
Segment Reporting Information [Line Items]
Total Identifiable assets	4,333.9	4,407.8
Corporate
Segment Reporting Information [Line Items]
Total Identifiable assets	$ 281.5	$ 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
	Jan. 31, 2023	Jan. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 858.5	$ 787.2
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	434.8	365.3
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	248.2	250.4
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 175.5	$ 171.5

Business Segment Information _4

Business Segment Information - Schedule of Net Property, Plant and Equipment By Country of Domicile (Details) - USD ($) $ in Millions	Jan. 31, 2023	Oct. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	$ 1,464	$ 1,432.9
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	871.3	856.1
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	325.3	310.8
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	$ 267.4	$ 266

Financial Derivatives and Hed_3

Financial Derivatives and Hedging - Narrative (Details) $ in Millions	3 Months Ended
	Jan. 31, 2023 USD ($) interest_rate_swap_contract	Jan. 31, 2022 USD ($)	Apr. 06, 2020 USD ($) interest_rate_swap_contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Pre-tax impact of gain (loss) on derivatives recognized in other comprehensive income (loss)	$ 96.7	$ 34.8
Gain (loss) on derivatives recognized in other comprehensive income (loss), net of tax	73.4	$ 26.4
Derivative loss expected to be realized in earnings over the next twelve months	38.1
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate swap contracts held \| interest_rate_swap_contract			6
Derivative notional amount	$ 1,000		$ 1,500
Number of interest rate swap contracts matured \| interest_rate_swap_contract	3
Interest rate swap contracts, contract term (or less)	5 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, 2023	Jan. 31, 2022
Interest (income) expense \| Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss recognized on derivatives within interest expense	$ (8.3)	$ 1.9

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, 2023	Jan. 31, 2022
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	$ 7,174.7	$ 6,942
Amount recognized in other comprehensive income on interest rate swaps contracts, net of tax	(14.8)	11.9
Amount reclassified from other comprehensive income into earnings, net of tax	(6.2)	1.4
Ending balance	7,335.7	6,926.1
Accumulated Gain (Loss), Net, Cash Flow Hedge, Before Tax, Parent
AOCI Attributable To Parent, Before Reclassification And Tax [Roll Forward]
Beginning balance	124.5	17.2
Ending balance	96.7	34.8
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 other comprehensive income on interest rate swap contracts, gross ($(14.8) million, net of tax and $11.9 million, net of tax, respectively)	(19.5)	15.7
Amount reclassified from other comprehensive income into earnings, gross ($(6.2) million, net of tax and $1.4 million, net of tax, respectively)	(8.3)	1.9
Ending balance	$ 73.4	$ 26.4