Share repurchase program, remaining authorized amount for repurchase

THE COOPER COMPANIES, INC. AND SUBSIDIARIESNotes to Consolidated Condensed Financial Statements(Unaudited)Note 8. Share-Based Compensation PlansThe Company has several share-based compensation plans that are described in the Company’s Annual Report on Form 10‑K for the fiscal year ended October 31, 2021. The compensation expense and related income tax benefit recognized in our Consolidated Statements of Income and Comprehensive Income for share-based awards were as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Periods Ended April 30, | Three Months |  | Six Months |
| (In millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Selling, general and administrative expense | $ | 11.3  |  |  | $ | 8.7  |  |  | $ | 22.8  |  |  | $ | 17.8  |  |
| Cost of sales | 1.0  |  |  | 0.9  |  |  | 2.3  |  |  | 2.0  |  |
| Research and development expense | 0.7  |  |  | 0.6  |  |  | 1.5  |  |  | 1.2  |  |
| Total share-based compensation expense | $ | 13.0  |  |  | $ | 10.2  |  |  | $ | 26.6  |  |  | $ | 21.0  |  |
| Related income tax benefit | $ | 1.1  |  |  | $ | 1.2  |  |  | $ | 2.7  |  |  | $ | 2.4  |  |
|  |  |  |  |  |  |  |  |

  
Note 9. Stockholders’ EquityAnalysis of Changes in Accumulated Other Comprehensive (Loss) Income:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (In millions) | Foreign Currency Translation Adjustment |  | Minimum Pension Liability |  | Derivative Instruments |  | Total |
| Balance at October 31, 2020 | $ | (402.3) |  |  | $ | (56.7) |  |  | $ | (13.0) |  |  | $ | (472.0) |  |
| Gross change in value | 82.2  |  |  | 29.8  |  |  | 34.3  |  |  | 146.3  |  |
| Tax effect | (0.2) |  |  | (7.2) |  |  | (8.2) |  |  | (15.6) |  |
| Balance at October 31, 2021 | $ | (320.3) |  |  | $ | (34.1) |  |  | $ | 13.1  |  |  | $ | (341.3) |  |
| Gross change in value | (145.9) |  |  | —  |  |  | 69.6  |  |  | (76.3) |  |
| Tax effect | —  |  |  | —  |  |  | (16.9) |  |  | (16.9) |  |
| Balance at April 30, 2022 | $ | (466.2) |  |  | $ | (34.1) |  |  | $ | 65.8  |  |  | $ | (434.5) |  |

Share RepurchasesIn December 2011, the Company's Board of Directors authorized the 2012 Share Repurchase Program and through subsequent amendments, the most recent in March 2017, the total repurchase authorization was increased from $500.0 million to $1.0 billion of the Company's common stock. This program has no expiration date and may be discontinued at any time. Purchases under the 2012 Share Repurchase Program are subject to a review of the circumstances in place at the time and may be made from time to time as permitted by securities laws and other legal requirements.During the three months ended April 30, 2022, there were no share repurchases under the program. During the six months ended April 30, 2022, the Company repurchased 191.2 thousand shares of its common stock for $78.5 million, at an average purchase price of $410.41 per share. At April 30, 2022, $256.4 million remained authorized for repurchase under the 2012 Share Repurchase Program. During the three months ended April 30, 2021, there were no shares repurchases under the program. During the six months ended April 30, 2021, the Company repurchased 69.6 thousand shares of its common stock for $24.8 million, at an average purchase price of $356.61 per share. Dividends    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. The Company paid a semiannual dividend of approximately $1.5 million or 3 cents per share, on February 9, 2021, to stockholders of record on January 22, 2021.  
Note 10. Fair Value MeasurementsAccounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to 18
