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Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Oct. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations

The quarterly results of operations for 2014 and 2013 are shown below (Dollars in millions, except per share amounts):

2014		January 31				April 30				July 31				October 31
Net sales		$	1,001.5			$	1,065.5			$	1,124.0			$	1,048.1
Gross profit		$	186.1			$	204.3			$	217.7			$	202.9
Net income(1)		$	31.8			$	37.1			$	11.5			$	(35.5	)
Net income attributable to Greif, Inc.(1)		$	30.7			$	38.4			$	13.7			$	8.7
Earnings per share
Basic:
Class A Common Stock		$	0.53			$	0.65			$	0.23			$	0.15
Class B Common Stock		$	0.78			$	0.98			$	0.35			$	0.22
Diluted:
Class A Common Stock		$	0.53			$	0.65			$	0.23			$	0.15
Class B Common Stock		$	0.78			$	0.98			$	0.35			$	0.22
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock			25,470,354				25,540,341				25,576,452				25,603,452
Class B Common Stock			22,119,966				22,119,966				22,119,966				22,119,966
Diluted:
Class A Common Stock			25,495,642				25,560,846				25,581,952				25,554,934
Class B Common Stock			22,119,966				22,119,966				22,119,966				22,119,966
Market price (Class A Common Stock):
High		$	56.47			$	54.98			$	56.53			$	50.85
Low		$	50.35			$	47.91			$	49.70			$	41.75
Close		$	50.63			$	54.19			$	50.18			$	44.06
Market price (Class B Common Stock):
High		$	60.00			$	59.20			$	61.09			$	55.00
Low		$	51.10			$	53.03			$	53.06			$	47.90
Close		$	55.51			$	58.81			$	53.62			$	50.20

⁽¹⁾  We recorded the following significant transactions during the fourth quarter of 2014: (i) restructuring charges of $5.6 million and (ii) non-cash asset impairment charges of $70.2 million, (iii) gain on disposals of properties, plants, equipment, net of $2.8 million, and (iv) gain on disposals of businesses, net of $21.2 million. Refer to Form 10-Q filings, as previously filed with the SEC, for prior quarter significant transactions or trends.

2013		January 31				April 30				July 31				October 31
Net sales		$	976.2			$	1,054.7			$	1,094.8			$	1,094.2
Gross profit		$	186.5			$	202.4			$	217.2			$	226.1
Net income(1)		$	24.2			$	39.7			$	48.4			$	35.2
Net income attributable to Greif, Inc.(1)		$	22.9			$	37.6			$	46.2			$	38.0
Earnings per share
Basic:
Class A Common Stock		$	0.40			$	0.64			$	0.79			$	0.65
Class B Common Stock		$	0.58			$	0.96			$	1.18			$	0.97
Diluted:
Class A Common Stock		$	0.40			$	0.64			$	0.79			$	0.65
Class B Common Stock		$	0.58			$	0.96			$	1.18			$	0.97
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock			25,316,395				25,390,486				25,435,379				25,454,762
Class B Common Stock			22,119,966				22,119,966				22,119,966				22,119,966
Diluted:
Class A Common Stock			25,380,502				25,432,388				25,464,664				25,473,695
Class B Common Stock			22,119,966				22,119,966				22,119,966				22,119,966
Market price (Class A Common Stock):
High		$	47.93			$	54.28			$	56.38			$	58.27
Low		$	39.80			$	45.49			$	47.35			$	47.76
Close		$	46.98			$	48.17			$	55.32			$	53.49
Market price (Class B Common Stock):
High		$	51.73			$	57.44			$	58.54			$	60.00
Low		$	43.45			$	48.24			$	51.01			$	52.02
Close		$	50.34			$	51.79			$	57.17			$	56.85

⁽¹⁾  We recorded the following significant transactions during the fourth quarter of 2013: (i) restructuring charges of $2.2 million, (ii) gain on sale of timberland of $17.3 million and (iii) non-cash asset impairment charges of $26.9 million. Refer to Form 10-Q filings, as previously filed with the SEC, for prior quarter significant transactions or trends.

Quarterly Detail of Impact of Restatement on Consolidated Statements of Income

The following information represents unaudited restated quarterly information for the years ending October 31, 2014 and 2013. Refer to Note 21 for additional information regarding the restatement of prior financial information.

		Three months ended
		July 31, 2014
		As Reported				Adjustments				As Adjusted
Net sales		$	1,161.1			$	(37.1	)		$	1,124.0
Cost of products sold			944.8				(38.5	)			906.3
Gross profit			216.3				1.4				217.7
Selling, general and administrative expenses			129.4				(0.3	)			129.1
Operating profit			59.6				1.7				61.3
Other (income) expense, net			1.4				0.2				1.6
Income before income tax expense and equity earnings of unconsolidated affiliates, net			37.5				1.5				39.0
Net Income			10.0				1.5				11.5
Net income attributable to Greif, Inc.			12.2				1.5				13.7
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.21			$	0.02			$	0.23
Class B Common Stock		$	0.31			$	0.04			$	0.35
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.21			$	0.02			$	0.23
Class B Common Stock		$	0.31			$	0.04			$	0.35

		Three months ended
		April 30, 2014
		As Reported				Adjustments				As Adjusted
Net sales		$	1,100.7			$	(35.2	)		$	1,065.5
Cost of products sold			896.5				(35.3	)			861.2
Gross profit			204.2				0.1				204.3
Selling, general and administrative expenses			135.4				(2.7	)			132.7
Timberland gains			(8.2	)			(0.5	)			(8.7	)
Operating profit			75.8				3.3				79.1
Other (income) expense, net			1.5				0.7				2.2
Income before income tax expense and equity earnings of unconsolidated affiliates, net			53.9				2.6				56.5
Net Income			34.5				2.6				37.1
Net income attributable to Greif, Inc.			35.8				2.6				38.4
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.61			$	0.04			$	0.65
Class B Common Stock		$	0.92			$	0.06			$	0.98
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.61			$	0.04			$	0.65
Class B Common Stock		$	0.92			$	0.06			$	0.98

		Three months ended
		January 31, 2014
		As Reported				Adjustments				As Adjusted
Net sales		$	1,034.4			$	(32.9	)		$	1,001.5
Cost of products sold			847.8				(32.4	)			815.4
Gross profit			186.6				(0.5	)			186.1
Selling, general and administrative expenses			121.5				(0.2	)			121.3
Timberland gains			(8.7	)			0.3				(8.4	)
Operating profit			72.0				(0.6	)			71.4
Other (income) expense, net			4.6				(1.8	)			2.8
Income before income tax expense and equity earnings of unconsolidated affiliates, net			47.0				1.2				48.2
Net Income			30.6				1.2				31.8
Net income attributable to Greif, Inc.			29.5				1.2				30.7
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.51			$	0.02			$	0.53
Class B Common Stock		$	0.75			$	0.03			$	0.78
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.51			$	0.02			$	0.53
Class B Common Stock		$	0.75			$	0.03			$	0.78

		Three months ended
		July 31, 2013
		As Reported				Adjustments				As Adjusted
Net sales		$	1,129.7			$	(34.9	)		$	1,094.8
Cost of products sold			912.4				(34.8	)			877.6
Gross profit			217.3				(0.1	)			217.2
Selling, general and administrative expenses			118.2				0.1				118.3
Operating profit			96.7				(0.2	)			96.5
Other (income) expense, net			4.0				(0.1	)			3.9
Income before income tax expense and equity earnings of unconsolidated affiliates, net			73.5				(0.1	)			73.4
Income tax (benefit) expense			25.9				0.3				26.2
Net Income			48.8				(0.4	)			48.4
Net (income) loss attributable to noncontrolling interests			(2.1	)			(0.1	)			(2.2	)
Net income attributable to Greif, Inc.			46.7				(0.5	)			46.2
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.80			$	(0.01	)		$	0.79
Class B Common Stock		$	1.20			$	(0.02	)		$	1.18
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.80			$	(0.01	)		$	0.79
Class B Common Stock		$	1.20			$	(0.02	)		$	1.18

		Three months ended
		April 30, 2013
		As Reported				Adjustments				As Adjusted
Net sales		$	1,088.9			$	(34.2	)		$	1,054.7
Cost of products sold			886.3				(34.0	)			852.3
Gross profit			202.6				(0.2	)			202.4
Selling, general and administrative expenses			120.1				0.2				120.3
Non-cash asset impairment charges			2.2				(0.1	)			2.1
Operating profit			83.9				(0.3	)			83.6
Other (income) expense, net			0.8				2.0				2.8
Income before income tax expense and equity earnings of unconsolidated affiliates, net			61.7				(2.3	)			59.4
Income tax (benefit) expense			19.6				0.3				19.9
Net Income			42.3				(2.6	)			39.7
Net income attributable to Greif, Inc.			40.2				(2.6	)			37.6
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.69			$	(0.05	)		$	0.64
Class B Common Stock		$	1.03			$	(0.07	)		$	0.96
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.69			$	(0.05	)		$	0.64
Class B Common Stock		$	1.03			$	(0.07	)		$	0.96

		Three months ended
		January 31, 2013
		As Reported				Adjustments				As Adjusted
Net sales		$	1,008.6			$	(32.4	)		$	976.2
Cost of products sold			821.9				(32.2	)			789.7
Gross profit			186.7				(0.2	)			186.5
Selling, general and administrative expenses			122.6				0.2				122.8
Operating profit			64.0				(0.4	)			63.6
Income before income tax expense and equity earnings of unconsolidated affiliates, net			38.0				(0.4	)			37.6
Income tax (benefit) expense			13.2				0.3				13.5
Net Income			24.9				(0.7	)			24.2
Net income attributable to Greif, Inc.			23.6				(0.7	)			22.9
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.41			$	(0.01	)		$	0.40
Class B Common Stock		$	0.60			$	(0.02	)		$	0.58
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A Common Stock		$	0.41			$	(0.01	)		$	0.40
Class B Common Stock		$	0.60			$	(0.02	)		$	0.58

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Tabular disclosure of the nature and amount of prior period errors that had previously been considered immaterial and which are being corrected in the current fiscal year. This disclosure would also generally include when and how each error being corrected arose and assert that the errors were immaterial to the prior amounts reported.

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Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data.

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