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v3.19.1

EQUITY AND COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended
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Apr. 30, 2019
Equity [Abstract] |
Summary of Changes in Equity | The following table summarizes the changes in equity for the three and six month periods ended April 30, 2019 (Dollars in millions, shares in thousands):
| Three-Month Period Ended April 30, 2019
| 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 January 31, 2019 | 48,241 |  |  | $ | 161.5 |  |  | 28,601 |  |  | $ | (134.8 | ) |  | $ | 1,471.9 |  |  | $ | (379.4 | ) |  | $ | 1,119.2 |  |  | $ | 52.3 |  |  | $ | 1,171.5 |
Net income |  |  |  |  |  |  |  |  | 13.6 |  |  |  |  | 13.6 |  |  | 7.5 |  |  | 21.1 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (12.7 | ) |  | (12.7 | ) |  | (2.0 | ) |  | (14.7 | )
Derivative financial instruments, net of income tax benefit of $5.3 million |  |  |  |  |  |  |  |  |  |  | (10.0 | ) |  | (10.0 | ) |  |  |  | (10.0 | )
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 0.7 |  |  | 0.7 |  |  |  |  | 0.7 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  | (8.4 | ) |  |  |  | (2.9 | )
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 0.8 |  |  |  |  | 0.8 |  |  |  |  | 0.8 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (0.5 | ) |  | (0.5 | )
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.66 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (26.1 | ) |  |  |  | (26.1 | ) |  |  |  | (26.1 | )
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (7.5 | ) |  | (7.5 | )
Restricted stock directors | 25 |  |  | 1.1 |  |  | (25 | ) |  | — |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
As of April 30, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8 | ) |  | $ | 1,460.2 |  |  | $ | (401.4 | ) |  | $ | 1,086.6 |  |  | $ | 49.8 |  |  | $ | 1,136.4 |
| Six-Month Period Ended April 30, 2019
| 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, 2018 | 47,949 |  |  | $ | 150.5 |  |  | 28,893 |  |  | $ | (135.4 | ) |  | $ | 1,469.8 |  |  | $ | (377.1 | ) |  | $ | 1,107.8 |  |  | $ | 46.4 |  |  | $ | 1,154.2 |
Net income |  |  |  |  |  |  |  |  | 43.3 |  |  |  |  | 43.3 |  |  | 13.6 |  |  | 56.9 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (8.5 | ) |  | (8.5 | ) |  | (1.0 | ) |  | (9.5 | )
Derivative financial instruments, net of income tax benefit of $3.4 million |  |  |  |  |  |  |  |  |  |  | (15.7 | ) |  | (15.7 | ) |  |  |  | (15.7 | )
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | (0.1 | ) |  | (0.1 | ) |  |  |  | (0.1 | )
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 19.0 |  |  |  |  | 31.6 |
Adoption of ASU 2016-16 |  |  |  |  |  |  |  |  | (2.1 | ) |  |  |  | (2.1 | ) |  |  |  | (2.1 | )
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (1.3 | ) |  | (1.3 | )
Dividends paid to Greif, Inc. shareholders ($0.88 and $1.31 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (51.8 | ) |  |  |  | (51.8 | ) |  |  |  | (51.8 | )
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (7.9 | ) |  | (7.9 | )
Restricted stock directors | 25 |  |  | 1.1 |  |  | (25 | ) |  |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
Long-term incentive shares issued | 292 |  |  | 11.0 |  |  | (292 | ) |  | 0.6 |  |  |  |  |  |  | 11.6 |  |  |  |  | 11.6 |
As of April 30, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8 | ) |  | $ | 1,460.2 |  |  | $ | (401.4 | ) |  | $ | 1,086.6 |  |  | $ | 49.8 |  |  | $ | 1,136.4 |
The following table summarizes the changes in equity for the three and six month periods ended April 30, 2018 (Dollars in millions, shares in thousands):
| Three-Month Period Ended April 30, 2018
| 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 January 31, 2018 | 47,925 |  |  | $ | 149.1 |  |  | 28,917 |  |  | $ | (135.5 | ) |  | $ | 1,390.5 |  |  | $ | (316.6 | ) |  | $ | 1,087.5 |  |  | $ | 39.0 |  |  | $ | 1,126.5 |
Net income |  |  |  |  |  |  |  |  | 45.1 |  |  |  |  | 45.1 |  |  | 6.8 |  |  | 51.9 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (26.3 | ) |  | (26.3 | ) |  | — |  |  | (26.3 | )
Interest rate derivative, net of income tax benefit of $0.3 million |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  | 1.4 |  |  |  |  | 1.4 |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 2.7 |  |  | 2.7 |  |  |  |  | 2.7 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 22.9 |  |  |  |  | 29.7 |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | (0.4 | ) |  |  |  | (0.4 | ) |  |  |  | (0.4 | )
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (0.8 | ) |  | (0.8 | )
Dividends paid to Greif, Inc. shareholders ($0.42 and $0.63 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (24.8 | ) |  |  |  | (24.8 | ) |  |  |  | (24.8 | )
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (2.2 | ) |  | (2.2 | )
Restricted stock directors | 21 |  |  | 1.0 |  |  | (21 | ) |  | — |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
Long-term incentive shares issued | 3 |  |  | 0.2 |  |  | (3 | ) |  | 0.1 |  |  |  |  |  |  | 0.3 |  |  |  |  | 0.3 |
As of April 30, 2018 | 47,949 |  |  | $ | 150.3 |  |  | 28,893 |  |  | $ | (135.4 | ) |  | $ | 1,410.4 |  |  | $ | (338.8 | ) |  | $ | 1,086.5 |  |  | $ | 42.8 |  |  | $ | 1,129.3 |
| Six-Month Period Ended April 30, 2018
| 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, 2017 | 47,843 |  |  | $ | 144.2 |  |  | 28,999 |  |  | $ | (135.6 | ) |  | $ | 1,360.5 |  |  | $ | (358.2 | ) |  | $ | 1,010.9 |  |  | $ | 36.6 |  |  | $ | 1,047.5 |
Net income |  |  |  |  |  |  |  |  | 101.6 |  |  |  |  | 101.6 |  |  | 10.4 |  |  | 112.0 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | 11.7 |  |  | 11.7 |  |  | 0.4 |  |  | 12.1 |
Interest rate derivative, net of income tax expense of $1.8 million |  |  |  |  |  |  |  |  | (0.6 | ) |  | 5.9 |  |  | 5.3 |  |  |  |  | 5.3 |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 1.8 |  |  | 1.8 |  |  |  |  | 1.8 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 120.4 |  |  |  |  | 131.2 |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | (1.8 | ) |  |  |  | (1.8 | ) |  |  |  | (1.8 | )
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (1.9 | ) |  | (1.9 | )
Dividends paid to Greif, Inc. shareholders ($0.84 and $1.25 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (49.3 | ) |  |  |  | (49.3 | ) |  |  |  | (49.3 | )
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (2.7 | ) |  | (2.7 | )
Restricted stock directors | 21 |  |  | 1.0 |  |  | (21 | ) |  | — |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
Long-term incentive shares issued | 85 |  |  | 5.1 |  |  | (85 | ) |  | 0.2 |  |  |  |  |  |  | 5.3 |  |  |  |  | 5.3 |
As of April 30, 2018 | 47,949 |  |  | $ | 150.3 |  |  | 28,893 |  |  | $ | (135.4 | ) |  | $ | 1,410.4 |  |  | $ | (338.8 | ) |  | $ | 1,086.5 |  |  | $ | 42.8 |  |  | $ | 1,129.3 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table provides the rollforward of accumulated other comprehensive loss for the six months ended April 30, 2019:
(in millions) | Foreign Currency Translation |  | Derivative Financial Instruments |  | Minimum Pension Liability Adjustment |  | Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2018 | $ | (292.8 | ) |  | $ | 13.4 |  |  | $ | (97.7 | ) |  | $ | (377.1 | )
Other Comprehensive Loss | (8.5 | ) |  | (15.7 | ) |  | (0.1 | ) |  | (24.3 | )
Current-period Other Comprehensive Loss | (8.5 | ) |  | (15.7 | ) |  | (0.1 | ) |  | (24.3 | )
Balance as of April 30, 2019 | $ | (301.3 | ) |  | $ | (2.3 | ) |  | $ | (97.8 | ) |  | $ | (401.4 | )
The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2018:
(in millions) | Foreign Currency Translation |  | Interest Rate Derivative |  | Minimum Pension Liability Adjustment |  | Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2017 | $ | (249.3 | ) |  | $ | 5.1 |  |  | $ | (114.0 | ) |  | $ | (358.2 | )
Other Comprehensive Income | 11.7 |  |  | 5.9 |  |  | 1.8 |  |  | 19.4 |
Current-period Other Comprehensive Income | 11.7 |  |  | 5.9 |  |  | 1.8 |  |  | 19.4 |
Balance as of April 30, 2018 | $ | (237.6 | ) |  | $ | 11.0 |  |  | $ | (112.2 | ) |  | $ | (338.8 | )

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