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Business Segment Information | 6 Months Ended
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Apr. 30, 2013
Segment Reporting [Abstract] |
Business Segment Information | NOTE 18 — BUSINESS SEGMENT INFORMATION The Company has five operating segments, which are aggregated into four reportable business segments: Rigid Industrial Packaging & Services, Flexible Products & Services, Paper Packaging, and Land Management. Operations in the Rigid Industrial Packaging & Services segment involve the production and sale of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, blending, filling and other packaging services, logistics and warehousing. The Company’s rigid industrial packaging products are sold to customers in industries such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical and mineral, among others. Operations in the Flexible Products & Services segment involve the production and sale of flexible intermediate bulk containers and related services on a global basis and the sale of industrial and consumer shipping sacks and multiwall bag products in North America. The Company’s flexible intermediate bulk containers are constructed from a polypropylene-based woven fabric that is produced at its fully integrated production sites, as well as sourced from strategic regional suppliers. Flexible products are sold to customers and in market segments similar to those of the Company’s Rigid Industrial Packaging & Services segment. Additionally, the Company’s flexible products significantly expand its presence in the agricultural and food industries, among others. The Company’s industrial and consumer shipping sacks and multiwall bag products are used to ship a wide range of industrial and consumer products, such as seed, fertilizers, chemicals, concrete, flour, sugar, feed, pet foods, popcorn, charcoal and salt, primarily for the agricultural, chemical, building products and food industries. Operations in the Paper Packaging segment involve the production and sale of containerboard, corrugated sheets, corrugated containers and other corrugated products to customers in North America. The Company’s corrugated container products are used to ship such diverse products as home appliances, small machinery, grocery products, automotive components, books and furniture, as well as numerous other applications. Operations in the Land Management segment involve the management and sale of timber and special use properties from approximately 269,550 acres of timber properties in the southeastern United States, which are actively managed, and 11,850 acres of timber properties in Canada. Land Management’s operations focus on the active harvesting and regeneration of our United States timber properties to achieve sustainable long-term yields. While timber sales are subject to fluctuations, the Company seeks to maintain a consistent cutting schedule, within the limits of market and weather conditions. The Company also sells, from time to time, timberland and special use properties, which consists of surplus properties, HBU properties, and development properties. The Company’s reportable business segments offer different products and services. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2012 Form 10-K. The following segment information is presented for the periods indicated (Dollars in millions):
|  | Three months ended |  |  | Six months ended |
|  | April 30, |  |  | April 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rigid Industrial Packaging & Services |  | $ | 773.4 |  |  | $ | 803.0 |  |  | $ | 1,477.8 |  |  | $ | 1,506.4 |
Flexible Products & Services |  |  | 112.4 |  |  |  | 113.9 |  |  |  | 223.8 |  |  |  | 228.7 |
Paper Packaging |  |  | 194.5 |  |  |  | 173.4 |  |  |  | 378.7 |  |  |  | 341.5 |
Land Management |  |  | 8.6 |  |  |  | 7.9 |  |  |  | 17.2 |  |  |  | 14.4 |
Total net sales |  | $ | 1,088.9 |  |  | $ | 1,098.2 |  |  | $ | 2,097.5 |  |  | $ | 2,091.0 |
Operating profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rigid Industrial Packaging & Services |  | $ | 53.2 |  |  | $ | 56.0 |  |  | $ | 85.3 |  |  | $ | 87.0 |
Flexible Products & Services |  |  | 0.8 |  |  |  | (1.9 | ) |  |  | 1.4 |  |  |  | 0.4 |
Paper Packaging |  |  | 25.7 |  |  |  | 17.1 |  |  |  | 53.4 |  |  |  | 37.3 |
Land Management |  |  | 4.2 |  |  |  | 7.1 |  |  |  | 8.4 |  |  |  | 10.1 |
Total operating profit |  | $ | 83.9 |  |  | $ | 78.3 |  |  | $ | 148.5 |  |  | $ | 134.8 |
Depreciation, depletion and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rigid Industrial Packaging & Services |  | $ | 26.6 |  |  | $ | 27.3 |  |  | $ | 53.5 |  |  | $ | 53.2 |
Flexible Products & Services |  |  | 3.7 |  |  |  | 3.8 |  |  |  | 7.2 |  |  |  | 7.7 |
Paper Packaging |  |  | 7.4 |  |  |  | 7.8 |  |  |  | 15.4 |  |  |  | 15.7 |
Land Management |  |  | 1.2 |  |  |  | 0.8 |  |  |  | 2.3 |  |  |  | 1.8 |
Total depreciation, depletion and amortization expense |  | $ | 38.9 |  |  | $ | 39.7 |  |  | $ | 78.4 |  |  | $ | 78.4 |
The following table presents net sales to external customers by geographic area (Dollars in millions):
|  | Three months ended April 30, |  |  | Six months ended April 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 513.3 |  |  | $ | 506.6 |  |  | $ | 989.4 |  |  | $ | 960.0 |
Europe, Middle East and Africa |  |  | 413.5 |  |  |  | 423.9 |  |  |  | 784.1 |  |  |  | 802.2 |
Asia Pacific and Latin America |  |  | 162.1 |  |  |  | 167.7 |  |  |  | 324.0 |  |  |  | 328.8 |
Total net sales |  | $ | 1,088.9 |  |  | $ | 1,098.2 |  |  | $ | 2,097.5 |  |  | $ | 2,091.0 |
The following table presents total assets by segment and geographic area (Dollars in millions):
|  | April 30, 2013 |  |  | October 31, 2012 |
Assets: |  |  |  |  |  |  |  |
Rigid Industrial Packaging & Services |  | $ | 2,436.1 |  |  | $ | 2,484.7 |
Flexible Products & Services |  |  | 381.7 |  |  |  | 363.8 |
Paper Packaging |  |  | 409.0 |  |  |  | 401.7 |
Land Management |  |  | 282.3 |  |  |  | 280.5 |
Total segments |  |  | 3,509.1 |  |  |  | 3,530.7 |
Corporate and other |  |  | 384.1 |  |  |  | 326.2 |
Total assets |  | $ | 3,893.2 |  |  | $ | 3,856.9 |
Assets: |  |  |  |  |  |  |  |
North America |  | $ | 1,733.8 |  |  | $ | 1,717.2 |
Europe, Middle East and Africa |  |  | 1,580.4 |  |  |  | 1,555.0 |
Asia Pacific and Latin America |  |  | 579.0 |  |  |  | 584.7 |
Total assets |  | $ | 3,893.2 |  |  | $ | 3,856.9 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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