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Equity and Comprehensive Income (Tables) | 3 Months Ended
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Jan. 31, 2015
Equity [Abstract] |
Summary of Changes in Equity | The following table summarizes the changes of Equity from October 31, 2014 to January 31, 2015 (Dollars in millions, shares in thousands):
|  | Capital Stock |  |  | Treasury Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Common Shares |  |  | Amount |  |  | Treasury Shares |  |  | Amount |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Greif, Inc. Equity |  |  | Non controlling interests |  |  | Total Equity |
As of October 31, 2014 |  |  | 47,724 |  |  | $ | 135.5 |  |  |  | 29,118 |  |  | $ | (130.7 | ) |  | $ | 1,411.7 |  |  | $ | (274.4 | ) |  | $ | 1,142.1 |  |  | $ | 81.1 |  |  | $ | 1,223.2 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30.1 |  |  |  |  |  |  |  | 30.1 |  |  |  | (1.9 | ) |  |  | 28.2 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (60.5 | ) |  |  | (60.5 | ) |  |  | (14.1 | ) |  |  | (74.6 | )
- Net reclassification of cash flow hedges to earnings, net of $0.0 income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  |  |  |  |  | 0.1 |
- minimum pension liability adjustment, net of income tax benefit of $2.1 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5.5 |  |  |  | 5.5 |  |  |  |  |  |  |  | 5.5 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (24.8 | ) |  |  |  |  |  |  | (40.8 | )
Acquisition of noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.4 | ) |  |  |  |  |  |  | (0.4 | ) |  |  | (11.4 | ) |  |  | (11.8 | )
Dividends paid |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (24.5 | ) |  |  |  |  |  |  | (24.5 | ) |  |  |  |  |  |  | (24.5 | )
Stock options exercised |  |  | 6 |  |  |  | 0.1 |  |  |  | (6 | ) |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  |  |  |  |  | 0.1 |
Long-term incentive shares issued |  |  | 49 |  |  |  | 2.0 |  |  |  | (49 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 2.1 |  |  |  |  |  |  |  | 2.1 |
As of January 31, 2015 |  |  | 47,779 |  |  | $ | 137.6 |  |  |  | 29,063 |  |  | $ | (130.6 | ) |  | $ | 1,416.9 |  |  | $ | (329.3 | ) |  | $ | 1,094.6 |  |  | $ | 53.7 |  |  | $ | 1,148.3 |
The following table summarizes the changes of Equity from October 31, 2013 to January 31, 2014 (Dollars in millions, shares in thousands):
|  | Capital Stock |  |  | Treasury Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Greif, Inc. Equity |  |  | Non controlling interests |  |  | Total Equity |
|  | Common Shares |  |  | Amount |  |  | Treasury Shares |  |  | Amount |  |  |  |  |  |
As of October 31, 2013 |  |  | 47,577 |  |  | $ | 129.4 |  |  |  | 29,265 |  |  | $ | (131.0 | ) |  | $ | 1,418.8 |  |  | $ | (152.6 | ) |  | $ | 1,264.6 |  |  | $ | 115.3 |  |  | $ | 1,379.9 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30.7 |  |  |  |  |  |  |  | 30.7 |  |  |  | 1.1 |  |  |  | 31.8 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (32.3 | ) |  |  | (32.3 | ) |  |  | (0.6 | ) |  |  | (32.9 | )
- Net reclassification of cash flow hedges to earnings, net of income tax benefit of $0.1 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  |  |  |  |  | 0.1 |
- minimum pension liability adjustment, net of income tax benefit of $0.1 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  |  |  |  |  | (0.3 | )
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1.8 | ) |  |  |  |  |  |  | (1.3 | )
Noncontrolling interests, loan conversion and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2.1 | ) |  |  |  |  |  |  | (2.1 | ) |  |  | 0.7 |  |  |  | (1.4 | )
Dividends paid |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (24.4 | ) |  |  |  |  |  |  | (24.4 | ) |  |  |  |  |  |  | (24.4 | )
Stock options exercised |  |  | 4 |  |  |  | 0.1 |  |  |  | (4 | ) |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  |  |  |  |  | 0.1 |
Long-term incentive shares issued |  |  | 56 |  |  |  | 2.8 |  |  |  | (56 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 2.9 |  |  |  |  |  |  |  | 2.9 |
As of January 31, 2014 |  |  | 47,637 |  |  | $ | 132.3 |  |  |  | 29,205 |  |  | $ | (130.9 | ) |  | $ | 1,423.0 |  |  | $ | (185.1 | ) |  | $ | 1,239.3 |  |  | $ | 116.5 |  |  | $ | 1,355.8 |
Schedule of Accumulated Other Comprehensive Income Loss | The following table provides the rollforward of accumulated other comprehensive income for the three months ended January 31, 2015 (Dollars in millions):
|  | Foreign Currency Translation |  |  | Cash Flow Hedges |  |  | Minimum Pension Liability Adjustment |  |  | Accumulated Other Comprehensive Income (Loss) |
Balance as of October 31, 2014 |  | $ | (144.5 | ) |  | $ | (0.1 | ) |  | $ | (129.8 | ) |  | $ | (274.4 | )
Other Comprehensive Income (Loss) Before Reclassifications |  |  | (60.5 | ) |  |  | — |  |  |  | 5.5 |  |  |  | (55.0 | )
Amounts reclassified from Accumulated Other Comprehensive Loss |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Current-period Other Comprehensive Income (Loss) |  |  | (60.5 | ) |  |  | 0.1 |  |  |  | 5.5 |  |  |  | (54.9 | )
Balance as of January 31, 2015 |  | $ | (205.0 | ) |  | $ | — |  |  | $ | (124.3 | ) |  | $ | (329.3 | )
The following table provides the rollforward of accumulated other comprehensive income for the three months ended January 31, 2014 (Dollars in millions):
|  | Foreign Currency Translation |  |  | Cash Flow Hedges |  |  | Minimum Pension Liability Adjustment |  |  | Accumulated Other Comprehensive Income (Loss) |
Balance as of October 31, 2013 |  | $ | (56.9 | ) |  | $ | (0.6 | ) |  | $ | (95.1 | ) |  | $ | (152.6 | )
Other Comprehensive Income (Loss) Before Reclassifications |  |  | (32.3 | ) |  |  | (0.1 | ) |  |  | (0.3 | ) |  |  | (32.7 | )
Amounts reclassified from Accumulated Other Comprehensive Loss |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Current-period Other Comprehensive Income (Loss) |  |  | (32.3 | ) |  |  | 0.1 |  |  |  | (0.3 | ) |  |  | (32.5 | )
Balance as of January 31, 2014 |  | $ | (89.2 | ) |  | $ | (0.5 | ) |  | $ | (95.4 | ) |  | $ | (185.1 | )
Reclassification Out of Accumulated Other Comprehensive Income | The following table provides amounts reclassified out of accumulated other comprehensive income for the three months ended January 31 (Dollars in millions):
Details about Accumulated Other Comprehensive Income Components |  | Amount Reclassified from Accumulated Other Comprehensive Loss |  |  | Location on Consolidated Statements of Income
|  | 2015 |  |  | 2014 |  |  |
Cash Flow Hedges |  | $ | 0.1 |  |  | $ | 0.2 |  |  | Other expense, net

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