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Equity and Comprehensive Income | 3 Months Ended
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Jan. 31, 2015
Equity [Abstract] |
Equity and Comprehensive Income | NOTE 16 — EQUITY AND COMPREHENSIVE INCOME 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 |
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 | )
The components of accumulated other comprehensive income above are presented net of tax, as applicable. 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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