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Equity and Comprehensive Income (Loss) | 9 Months Ended
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Jul. 31, 2015
Equity [Abstract] |
Equity and Comprehensive Income (Loss) | NOTE 16 —EQUITY AND COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes of equity from October 31, 2014 to July 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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 59.5 |  |  |  |  |  |  |  | 59.5 |  |  |  | (1.5 | ) |  |  | 58.0 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (87.7 | ) |  |  | (87.7 | ) |  |  | (21.8 | ) |  |  | (109.5 | )
- Net reclassification of cash flow hedges to earnings, net of immaterial income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  |  |  |  |  | 0.1 |
- minimum pension liability adjustment, net of income tax expense of $2.0 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5.5 |  |  |  | 5.5 |  |  |  |  |  |  |  | 5.5 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22.6 | ) |  |  |  |  |  |  | (45.9 | )
Acquisition of noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.4 | ) |  |  |  |  |  |  | (0.4 | ) |  |  | (10.1 | ) |  |  | (10.5 | )
Dividends paid to Greif, Inc. shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (74.0 | ) |  |  |  |  |  |  | (74.0 | ) |  |  |  |  |  |  | (74.0 | )
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | (4.0 | ) |  |  | (4.0 | )
Stock options exercised |  |  | 10 |  |  |  | 0.2 |  |  |  | (10 | ) |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 0.2 |  |  |  |  |  |  |  | 0.2 |
Restricted stock executives and directors |  |  | 31 |  |  |  | 1.4 |  |  |  | (31 | ) |  |  | — |  |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  |  |  |  |  |  | 1.4 |
Long-term incentive shares issued |  |  | 49 |  |  |  | 2.0 |  |  |  | (49 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 2.1 |  |  |  |  |  |  |  | 2.1 |
As of July 31, 2015 |  |  | 47,814 |  |  | $ | 139.1 |  |  |  | 29,028 |  |  | $ | (130.6 | ) |  | $ | 1,396.8 |  |  | $ | (356.5 | ) |  | $ | 1,048.8 |  |  | $ | 43.7 |  |  | $ | 1,092.5 |
The following table summarizes the changes of equity from October 31, 2013 to July 31, 2014 (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, 2013 |  |  | 47,577 |  |  | $ | 129.4 |  |  |  | 29,265 |  |  | $ | (131.0 | ) |  | $ | 1,418.8 |  |  | $ | (152.6 | ) |  | $ | 1,264.6 |  |  | $ | 115.3 |  |  | $ | 1,379.9 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 82.8 |  |  |  |  |  |  |  | 82.8 |  |  |  | (2.4 | ) |  |  | 80.4 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- foreign currency translation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (36.3 | ) |  |  | (36.3 | ) |  |  | 0.3 |  |  |  | (36.0 | )
- Net reclassification of cash flow hedges to earnings, net of income tax expense of $0.2 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.4 |  |  |  | 0.4 |  |  |  |  |  |  |  | 0.4 |
- minimum pension liability adjustment, net of income tax benefit of $0.2 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.5 | ) |  |  | (0.5 | ) |  |  |  |  |  |  | (0.5 | )
Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46.4 |  |  |  |  |  |  |  | 44.3 |
Noncontrolling interests, loan conversion and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1.2 | ) |  |  |  |  |  |  | (1.2 | ) |  |  | 15.2 |  |  |  | 14.0 |
Dividends paid to Greif, Inc. shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (73.8 | ) |  |  |  |  |  |  | (73.8 | ) |  |  |  |  |  |  | (73.8 | )
Stock options exercised |  |  | 68 |  |  |  | 1.6 |  |  |  | (68 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 1.7 |  |  |  |  |  |  |  | 1.7 |
Restricted stock executives and directors |  |  | 22 |  |  |  | 1.1 |  |  |  | (22 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 1.2 |  |  |  |  |  |  |  | 1.2 |
Long-term incentive shares issued |  |  | 56 |  |  |  | 2.9 |  |  |  | (56 | ) |  |  | 0.1 |  |  |  |  |  |  |  |  |  |  |  | 3.0 |  |  |  |  |  |  |  | 3.0 |
As of July 31, 2014 |  |  | 47,723 |  |  | $ | 135.0 |  |  |  | 29,119 |  |  | $ | (130.7 | ) |  | $ | 1,426.6 |  |  | $ | (189.0 | ) |  | $ | 1,241.9 |  |  | $ | 128.4 |  |  | $ | 1,370.3 |
The following table provides the rollforward of accumulated other comprehensive income for the nine months ended July 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 |  |  | (87.7 | ) |  |  | — |  |  |  | 5.5 |  |  |  | (82.2 | )
Amounts reclassified from Accumulated Other Comprehensive Loss |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Current-period Other Comprehensive Income (Loss) |  |  | (87.7 | ) |  |  | 0.1 |  |  |  | 5.5 |  |  |  | (82.1 | )
Balance as of July 31, 2015 |  | $ | (232.2 | ) |  | $ | — |  |  | $ | (124.3 | ) |  | $ | (356.5 | )
The following table provides the rollforward of accumulated other comprehensive income for the nine months ended July 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 |  |  | (36.3 | ) |  |  | (0.1 | ) |  |  | (0.5 | ) |  |  | (36.9 | )
Amounts reclassified from Accumulated Other Comprehensive Loss |  |  | — |  |  |  | 0.5 |  |  |  | — |  |  |  | 0.5 |
Current-period Other Comprehensive Income (Loss) |  |  | (36.3 | ) |  |  | 0.4 |  |  |  | (0.5 | ) |  |  | (36.4 | )
Balance as of July 31, 2014 |  | $ | (93.2 | ) |  | $ | (0.2 | ) |  | $ | (95.6 | ) |  | $ | (189.0 | )
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 nine months ended July 31 (Dollars in millions):
Details about Accumulated Other Comprehensive Income Components |  | Ammount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |  | Location on Consolidated Consolidated Statements of Income
|  | 2015 |  |  | 2014 |  |  |
Cash Flow Hedges |  | $ | 0.1 |  |  | $ | 0.5 |  |  | Other expense, net

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